The European Central Bank (ECB) President Christine Lagarde addressed the press conference following the monetary policy decision. Lagarde mentioned that domestic price pressures are keeping services inflation high. She also highlighted that financing conditions remain restrictive, past interest rate increases are weighing on demand, and manufacturing faces weak demand. Lagarde stated that the economy remains weak, with inflation expected to fluctuate around current levels before declining next year. She emphasized that recovery will be supported by rising real incomes, and risks to growth are tilted to the downside. Lagarde mentioned that a very large majority of members wanted to wait until June for further decisions and that price pressures are gradually diminishing.
π΄ ECB'S PRESIDENT LAGARDE: DISINFLATION PROGRESS IS COMFORTING US.
π΄ ECB'S PRESIDENT LAGARDE: WE KNOW THERE'LL BE CPI FLUCTUATION, NO LINEAR DECLINE.
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π΄ ECB'S PRESIDENT LAGARDE: I AM ATTENTIVE TO THE EVOLUTION OF OIL PRICES.
π΄ ECB'S PRESIDENT LAGARDE: WE WON'T WAIT UNTIL EACH ITEM IN INFLATION IS BACK AT 2%.
π΄ ECB'S PRESIDENT LAGARDE: SERVICES INFLATION IS STILL AT HIGH LEVELS.
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ECB Lagarde: We are not Fed dependent. Says can't assume Eurozone inflation will mirror USΒ inflation. https://t.co/18TrYIxRGF
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π΄ ECB'S PRESIDENT LAGARDE: IF DISINFLATION CONTINUES, RATE PATH WILL REFLECT THAT.
π΄ ECB'S PRESIDENT LAGARDE: THE INFLATION DECLINE WON'T BE LINEAR.
π΄ ECB'S PRESIDENT LAGARDE: THE BALANCE SHEET HAS ALREADY SHRUNK SIGNIFICANTLY.
π΄ ECB'S PRESIDENT LAGARDE: A VERY LARGE MAJORITY OF MEMBERS WANTED TO WAIT FOR JUNE.
π΄ ECB'S PRESIDENT LAGARDE: WE ARE NOT FED DEPENDENT.
π΄ ECB'S PRESIDENT LAGARDE: A FEW MEMBERS FELT CONFIDENT ON INFLATION TODAY.
π΄ ECB'S PRESIDENT LAGARDE: WE WILL GET A LOT MORE DATA BY JUNE.
ECB's Lagarde: Inflation To Fluctuate Around Current Levels In Coming Months - Inflation Will Then Decline To Target Next Year
ECB LAGARDE: PRICE PRESSURES GRADUALLY DIMINISHING || INFLATION TO FLUCTUATE AROUND CURRENT LEVELS IN COMING MONTHS ECB LAGARDE: INFLATION WILL THEN DECLINE TO TARGET NEXT YEAR || RISKS TO GROWTH TILTED TO THE DOWNSIDE
π΄ ECB'S LAGARDE: RISKS TO GROWTH ARE TILTED TO THE DOWNSIDE.
ECB LAGARDE: INFLATION TO FLUCTUATE AROUND CURRENT LEVELS IN COMING MONTHS, WILL THEN DECLINE TO TARGET NEXT YEAR
π΄ ECB LAGARDE: INFLATION WILL THEN DECLINE TO TARGET NEXT YEAR.
π΄ ECB LAGARDE: INFLATION TO FLUCTUATE AROUND CURRENT LEVELS IN COMING MONTHS.
π΄ ECB'S PRESIDENT LAGARDE: PRICE PRESSURES ARE GRADUALLY DIMINISHING.
π΄ ECB'S PRESIDENT LAGARDE: MANUFACTURING FACES WEAK DEMAND.
π΄ ECB'S PRESIDENT LAGARDE: RECOVERY TO BE SUPPORTED BY RISING REAL INCOMES.
π΄ ECB LAGARDE: SURVEYS POINT TO GRADUAL RECOVERY.
ECB LAGARDE: ECONOMY REMAINS WEAK ECB LAGARDE: SURVEYS POINT TO GRADULA RECOVERY || RECOVERY TO BE SUPPORTED BY RISING REAL INCOMES
π΄ ECB'S PRESIDENT LAGARDE: SERVICES SPENDING IS RESILIENT.
π΄ ECB LAGARDE: THE ECONOMY REMAINS WEAK.
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π΄ ECB: DOMESTIC PRICE PRESSURES KEEPING SERVICES INFLATION HIGH.
π΄ ECB SAYS FINANCING CONDITIONS REMAIN RESTRICTIVE AND PAST INTEREST RATE INCREASES CONTINUE TO WEIGH ON DEMAND, WHICH IS HELPING TO PUSH DOWN INFLATION.