By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde effectively told markets on October 29 to expect a December rate hike unless the outlook changed dramatically. In an interview published Saturday, she presented her remarks to Japanese newspaper Yomiuri Shimbun as a reiteration of her earlier guidance; our slightly contrarian view is that she gave the Governing Council a little more room to hold than she had the week before.