Christine Lagarde, President of the European Central Bank (ECB), explains the ECB’s decision to leave the key interest rates unchanged in January and responds to questions from the press.
Key quotes
“Economy is likely to have stagnated in Q4.”
“Incoming data signal weakness in the near term.”
“Some surveys point to growth further ahead.”
“Demand for labour is slowing.”
“New budget rules should be implemented wihout delay.”
“Inflation expected to ease further over 2024.”
“Domestic price pressures are high but some measures started to ease.”
“Longer term inflation term expectations mostly stand around 2%.”
“Risks to growth are tilted to the downside.”
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-inflation-expected-to-ease-further-over-2024-202401251350