Lagarde speech: Didn’t have unanimity for calibration of guidance

Christine Lagarde, President of the Europen Central Bank (ECB), is delivering her remarks on the monetary policy outlook in a press conference following the ECB’s decision to leave the policy settings unchanged in July.

Key takeaways

“Inflation is expected to decline again at the start of next year.”

“Slack is holding back price pressures.”

“A gradual increase in underlying inflation is expected over the medium term, albeit below target.”

“Balance of risks is broadly balanced.”

“Didn’t have unanimity for calibration of guidance.”

“We were on the same page directionally.”

About ECB President Lagarde

The European Central Bank’s President Christine Lagarde, born in 1956 in France, has formerly served as Managing Director of the International Monetary Fund, and minister of finance in France. She began her eight-year term at the helm of the ECB in November 2019. As part of her job in the Governing Council, Lagarde holds press conferences in detailing how the ECB observes the current and future state of the European economy. Her comments may positively or negatively the euro’s trend in the short-term. Usually, a hawkish outlook boosts the euro (bullish), while a dovish one weighs on the common currency (bearish).