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September 5, 2019

Incoming ECB director defends low rates

AP Business Writer

FRANKFURT, Germany — Incoming European Central Bank head Christine Lagarde is defending the bank's record low rates and other stimulus measures as she prepares to take over with the economy facing trouble from trade wars and Brexit.

During hearings in the European parliament Wednesday, Lagarde said the job requires both a commitment to the basic mandate to keep prices stable and the “agility” to come up with new ways to meet unforeseen trouble.

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