The European Central Bank (ECB) has updated its inflation projections, indicating a gradual decline towards its target rate over the next few years. According to the ECB, inflation is expected to average 2.3% in 2024, 2.0% in 2025, and 1.9% in 2026. The projections for inflation excluding energy and food have also been revised down to average 2.6% for 2024, 2.1% for 2025, and 2.0% for 2026. ECB President Christine Lagarde highlighted that real incomes are expected to rebound, supporting economic growth, despite the risks to economic growth remaining tilted to the downside. Lagarde also mentioned that longer-term inflation expectations are mostly around 2%, and there are signs that wage growth is starting to moderate. The ECB's stance on monetary policy remains independent of the Federal Reserve, with a focus on achieving the inflation target without waiting until it reaches exactly 2%. Additionally, Lagarde noted that domestic price pressures are elevated and demand for labour is slowing.
π΄ ECB'S PRESIDENT LAGARDE: I DIDN'T SAY THERE WAS NO RUSH.
π΄ ECB'S PRESIDENT LAGARDE: THE ECB WILL ACT INDEPENDENTLY OF WHAT THE FED DOES.
ECBβs Lagarde: It Matters That We Have More Data In June
π΄ ECB'S PRESIDENT LAGARDE: IT MATTERS THAT WE HAVE MORE DATA IN JUNE.
π΄ ECB'S PRESIDENT LAGARDE: WE HAVE BEGUN DISCUSSING DIALLING BACK OUR RESTRICTIVE STANCE.
π΄ ECB'S PRESIDENT LAGARDE: WE HAVE NOT DISCUSSED RATE CUTS AT THIS MEETING.
Listening to another impressive performance by ECB President Lagarde at her press conference. She comes across as informed, balanced, engaged, engaging, and confident. @ecb #centralbanks #economy @markets @largarde #econtwitter
π΄ ECB'S PRESIDENT LAGARDE: I WON'T COMMIT TO PACE OF FUTURE RATE MOVES.
π΄ ECB'S PRESIDENT LAGARDE: WE'RE STILL IN THE HOLDING SEASON, WE'LL MOVE TO RESTRICTIVINESS SEASON AND THEN NORMNALISATION.
π΄ ECB'S PRESIDENT LAGARDE: MY STRONG EXPECTATIONS IS THAT IT WILL BE COMPLETED ON MARCH 13TH.
π΄ ECB'S PRESIDENT LAGARDE: WE DISCUSSED THE FRAMEWORK YESTERDAY TO ARRIVE AT A CONSENSUS.
π΄ ECB'S PRESIDENT LAGARDE: MARKET EXPECTATIONS SEEM TO BE CONVERGING BETTER.
π΄ ECB'S PRESIDENT LAGARDE: WE WILL NOT WAIT UNTIL WE ARE AT 2%.
ECBβs Lagarde: We Will Not Wait Until We Are At 2%
π΄ ECB'S PRESIDENT LAGARDE: I EXPECT 4Q WAGE DATA TOMORROW TO SHOW A SLOWDOWN.
π΄ ECB'S PRESIDENT LAGARDE: THE ONLY UNDERLYING INDICATOR THAT ISN'T DECLINING IS DOMESTIC INFLATION.
ECBβs Lagarde: Only Underlying Indicator That Isn't Declining Is Domestic Inflation
π΄ ECB'S PRESIDENT LAGARDE: THE ECB DECISION WAS UNANIMOUS.
π΄ ECB'S PRESIDENT LAGARDE: THE DATA IS DIRECTIONALLY GOOD BUT NOT STRONG OR DURABLE ENOUGH.
π΄ ECB'S PRESIDENT LAGARDE: IT'S CLEARLY A POSITIVE SIGNAL BUT THERE IS NOT ENOUGH YET.
π΄ ECB'S PRESIDENT LAGARDE: WE'RE SEEING GENERAL MODERATION IN UNDERLYING INFLATION.
π΄ ECB'S PRESIDENT LAGARDE: WE'LL KNOW A LITTLE MORE IN APRIL AND A LOT MORE IN JUNE.
π΄ ECB'S PRESIDENT LAGARDE: DATA WILL COME IN THE NEXT FEW MONTHS, WE WILL KNOW A LOT MORE IN JUNE.
ECBβs Lagarde: We're Making Progress In Disinflationary Process - We're More Confident About Hitting Goal, But Not Sufficiently Confident - Data Will Come In Next Few Months, We Will Know A Lot More In June
π΄ ECB'S PRESIDENT LAGARDE: WE ARE NOT SUFFICIENTLY CONFIDENT ON INFLATION.
π΄ ECB'S PRESIDENT LAGARDE: WE ARE MAKING GOOD PROGRESS TOWARD INFLATION TARGET.
π΄ ECB'S PRESIDENT LAGARDE: WE'RE MAKING PROGRESS IN THE DISINFLATIONARY PROCESS.
π΄ ECB'S PRESIDENT LAGARDE: GEOPOLITICAL TENSIONS ARE AMONG UPSIDE RISKS TO INFLATION.
π΄ ECB'S PRESIDENT LAGARDE: RISKS TO ECONOMIC GROWTH REMAIN TILTED TO THE DOWNSIDE.
ECBβs Lagarde: Inflation To Decline To Target - Longer-Term Inflation Expectations Mostly Stand Around 2% - Risks To Economic Growth Remain Tilted To The Downside
π΄ ECB'S PRESIDENT LAGARDE: LONGER-TERM INFLATION EXPECTATIONS MOSTLY STAND AROUND 2%.
π΄ ECB'S PRESIDENT LAGARDE: INFLATION IS SEEN CONTINUING THE DOWNWARD TREND.
π΄ ECB'S PRESIDENT LAGARDE: INFLATION IS TO DECLINE TO TARGET.
π΄ ECB'S PRESIDENT LAGARDE: THERE ARE SIGNS GROWTH IN WAGES ARE STARTING TO MODERATE.
π΄ ECB'S PRESIDENT LAGARDE: DOMESTIC PRICE PRESSURES ARE ELEVATED.
Watch: ECB President Christine Lagarde speaks after rate decision https://t.co/NDSKDxXkID
ECBβs Lagarde: Economy Remains Weak - Surveys Point To A Pick-Up This Year - Impact Of Past Increases Will Gradually Fade - Demand For Labour Is Slowing
π΄ ECB'S PRESIDENT LAGARDE: DEMAND FOR LABOUR IS SLOWING.
π΄ ECB'S PRESIDENT LAGARDE: DEMAND FOR EURO-AREA EXPORTS SHOULD PICK UP.
π΄ ECB'S PRESIDENT LAGARDE: SURVEYS POINT TO A GRADUAL RECOVERY OVER THE COURSE OF THE YEAR.
π΄ ECB'S PRESIDENT LAGARDE: REAL INCOMES WILL REBOUND, SUPPORTING GROWTH.
π΄ ECB'S PRESIDENT LAGARDE: CONSUMERS ARE HOLDING BACK ON SPENDING.
Watch the ECB press conference live: President Christine Lagarde explains todayβs monetary policy decisions https://t.co/xY2WIP3nVX
#BREAKING European Central Bank (ECB) says inflation expected to fall faster than previously forecast this year, sees return to 2% target in 2025 https://t.co/6mAWSnN3jl
ECB: Staff Now Project Inflation To Average 2.3% In 2024, 2.0% In 2025 And 1.9% In 2026
π΄ ECBβS NEW INFLATION PROJECTIONS: 2.3% IN 2024, 2.0% IN 2025 AND 1.9% IN 2026.
π΄ ECB: PROJECTIONS FOR INFLATION EXCLUDING ENERGY AND FOOD HAVE ALSO BEEN REVISED DOWN AND AVERAGE 2.6% FOR 2024, 2.1% FOR 2025 AND 2.0%, FOR 2026.