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Lagarde: Monetary policy statement press conference
Good afternoon, the Vice-President and I welcome you to our press conference. The Governing Council today decided to raise the three key ECB interest rates by 75 basis points. This major step frontloads the transition from the prevailing highly accommodative level of policy rates towards levels that will ensure the timely return of inflation to our two per cent medium-term target. Based on our current assessment, over the next several meetings we expect to raise interest rates further to dampen demand and guard against the risk of a persistent upward shift in inflation expectations. We will regularly re-evaluate our ... (full story)
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LAGARDE SAYS DECISION UNANIMOUS
— *seven (@sevenloI) September 8, 2022
LAGARDE SAYS HAD DIFFERENT VIEWS AROUND THE TABLE
LAGARDE SAYS INFLATION SPREADING ACROSS WHOLE RANGE OF PRODUCTS, INCLUDING IN SERVICES
*Lagarde: Inflation Is Extremely High, Spans Sectors
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ECB's Lagarde:
— DailyFX Team Live (@DailyFXTeam) September 8, 2022
- Next rate hike will not necessarily be 75 basis points; 75 bps is not the norm
- Given how high inflation is, determined action had to be taken
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LAGARDE SAYS DOWNSIDE SCENARIO FOR GROWTH INCLUDES NEGATIVE GROWTH IN 2023
— *seven (@sevenloI) September 8, 2022
LAGARDE SAYS DOWNSIDE SCENARIO SEES GAS RATIONING
LAGARDE SAYS DOWNSIDE SCENARIO REALLY DARK
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*LAGARDE: ECB CLOSELY MONITORING EURO, HAVE NOTED DEPRECIATION
— 4XInsight (@4xInsight) September 8, 2022
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