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Christine Lagarde, President of the European Central Bank (ECB), is attending a panel titled “Restoring Economic Growth” at the World Economic Forum.

Key takeaways

“Recovery somewhat delayed but not derailed.”

“Hope is still that 2021 is the year of recovery.”

“The euro area growth in Q4 was negative.”

“We are expecting the post-pandemic economy to be different.”

Market reaction

The EUR/USD pair showed no immediate reaction to these comments and was last seen losing 0.3% on the day at 1.2133.

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).