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Following the European Central Bank’s (ECB) decision to leave its interest rates unchanged while announcing additional asset purchases of €120 billion until the end of the year alongside new TLTROs, Christine Lagarde, President of the ECB, is responding to questions from the press.

Key quotes

“Monetary policy is not set based on FX variations.”

“Rallying support around the table to use all tools, adjust instruments.”

“We are not at a reversal rate.”

“If needed to cut rates, we’ll do so.”

“We are in very frequent dialogue with the European Investment Bank and European Commission.”

“It takes a bit of time for decisions to be appreciated by markets.”

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