Following the European Central Bank’s (ECB) decision to leave its interest rates unchanged, Christine Lagarde, President of the ECB, is delivering her remarks on the monetary policy outlook in a press conference.
Key takeaways
“Q2 impact likely more severe than Q1.”
“Duration of recession difficult to predict.”
“Inflation likely to drop considerably in coming months.”
“Longer term inflation expectations less affected.”
“Ambitious and coordinated fiscal stance is critical.”
“Governing Council urges further strong and timely fiscal efforts to prepare and support the recovery.”
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).
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