The economic recovery in the euro area remains incomplete, uncertain and uneven, Christine Lagarde, President of the European Central Bank (ECB), reiterated while delivering her prepared remarks at the EU Committee on Economic and Monetary Affairs.
Additional takeaways (via Reuters)
“In the current environment of elevated uncertainty, the Governing Council will carefully assess all incoming information, including developments in the exchange rate with regard to its implications for the medium-term inflation outlook.”
“From now on, we will publish on our website the opinions of the ECB Ethics Committee for cases of conflict of interest.”
“ECB stands ready to adjust all of its instruments, as appropriate, to ensure that inflation moves towards its aim in a sustained manner, in line with its commitment to symmetry.”
Market reaction
These comments don’t seem to be having a significant impact on the shared currency’s performance against its rivals. As of writing, the EUR/USD pair was up 0.38% on a daily basis at 1.1675.
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