Christine Lagarde, President of the European Central Bank (ECB), is delivering her remarks on the policy outlook and responding to questions from the press following the Governing Council’s decision to hike key rates by 25 basis points in July.
Key takeaways
“The wording change in the statement was not random or irrelevant.”
“Data and our assessment of data will tell us if any and how much ground we’ll have to cover.”
“We are open-minded.”
“We are not in the domain of forward guidance.”
“Minium reserve remuneration rate cut has no impact on policy stance.”
“We have not discussed a balance sheet cut.”
About ECB’s press conference
Following the ECB´s monetary policy decisions, the ECB President delivers a prepared statement and responds to questions from the press on the policy outlook. Her comments may influence the volatility of EUR and determine a short-term positive or negative trend. Her hawkish view is considered as positive, or bullish for the EUR, whereas her dovish view is considered as negative, or bearish.
Source: https://www.fxstreet.com/news/lagarde-speech-have-not-discussed-balance-sheet-cut-202307271309