Lagarde speech: ECB  is not doing yield curve control

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.

Key takeaways

“Convenient to decide  on PEPP pace on a quarterly basis.”

“Governing Council not monitoring PEPP on weekly basis.”

“Don’t expect a big PEPP increase next Monday.”

“Large redemptions due on Monday.”

“We’re beginning to implement the decision as of today.”

“If necessary, the Governing Council can always meet.”

“Board can use flexibility to deliver on the decision.”

“ECB  is not doing yield curve control.”

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).