Lagarde speech: Would much rather have much higher growth, higher rates
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Lagarde speech: Would much rather have much higher growth, higher rates

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

“How we measure inflation is something we’ll look at.”

“I doubt we’ll resolve the issue of housing.”

“If we believe there is miscalculation between data and perception, we need to pass on to Eurostat.”

“I don’t think work on housing will be done in one year.”

“I’m concerned about low rates.”

“I would much rather have much higher growth, higher rates.”

“Review will look at side effects of low rates.”

“If growth did not pick up, we have to decide on which part of the yield curve we want to operate and that determines tool.”

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.

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