Lagarde speech: Economy more resilient than expected, should recover in coming quarters

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 50 basis points in February.

Key takeaways

"We expect growth to stay weak."

High inflation, tighter financing conditions dampen spending and production."

"Supply bottlenecks are gradually easing."

"Supply of gas has become more secure."

"Rising wages to restore some purchasing power."

"Economy more resilient than expected, should recover in coming quarters."

"Job creation may slow, unemployment could rise."

"Important to start rolling back fiscal support."

"Fiscal measures could exacerbate inflationary pressures, necessitate stronger ECB response."

About ECB's press conference

Following the ECB´s economic policy decision, the ECB President gives a press conference regarding monetary policy. 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.