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Following the European Central Bank’s (ECB) decision to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, Christine Lagarde, President of the ECB, is responding to questions from the press.

Key quotes

“Strategy will touch on how we deliver and measure.”

“Expectation is review will take a year.”

“December in my view probable date for communication of strategy.”

“In the meantime, irrespective of review, the ECB will monitor and draw a conclusion about monetary policy.”

“Unanimous view tiering operating extremely well.”

“No discussion of changing tiering multiplier.”

About ECB’s 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.