ECB's Lagarde says only one governor opposed rate cut decision

European Central Bank President Christine Lagarde said on Thursday that only one ECB Governing Council member had opposed the bank's decision to cut interest rates earlier in the day.

"Was it a unanimous decision? Yes, but for one governor," Lagarde told reporters at a post-meeting news conference. "I leave it to your sagacity to identify who it is."

The bank cut its three main rates by 25 basis points each, acknowledging progress in its battle against high inflation but also signalling that the fight had yet to be won as inflation was set to remain too high until next year.