LAGARDE SAYS SUSTAINABLE FINANCES KEY FOR ECONOMIC STABILITY

What happened: ECB president Christine Lagarde told budget ministers in Thailand that fiscal sustainability is a crucial anchor for economic stability, urging sound fiscal policies and consolidation where debt is high. Key numbers: ECB raised interest rates twice, in June and September, with another hike widely expected at the end of the year. Why it matters: Lagarde reiterated the ECB's view that risks to the economic outlook are on the downside while inflation risks point upward. Governing Council members signaled policy may need to do more, with Nagel saying the job isn't done so far.

ECB president Christine Lagarde told budget ministers in Thailand that fiscal sustainability is a crucial anchor for economic stability, urging sound fiscal policies and consolidation where debt is high.

Lagarde reiterated the ECB's view that risks to the economic outlook are on the downside while inflation risks point upward. Governing Council members signaled policy may need to do more, with Nagel saying the job isn't done so far.