European Central Bank President Christine Lagarde attended the European Parliament plenary session on the ECB Annual Report for 2022. Lagarde emphasized the need for a redesign of the economy and financial system to address climate change and achieve Net Zero goals. She mentioned that labor cost increases are not fully passed on to consumers and highlighted signs of growth bottoming out with indicators pointing to a pickup later in the year. Lagarde called for decisive European action to strengthen the euro area and reiterated the ECB's commitment to maintaining interest rates to support inflation returning to the 2% target.
Introductory statement by Christine @Lagarde, President of the ECB, at the plenary session of the European Parliament https://t.co/4WeyxU4kqs
Lagarde: I count on this Parliament – and the next one – to drive the decisive European action needed to strengthen the euro area. The ECB will continue to play its part, within its mandate.
Lagarde: The shifting economic and geopolitical landscape calls for strengthening Europe’s resilience. To maintain monetary sovereignty and economic prosperity, Europe should strive to unlock its potential, focusing on 3 key dimensions: independence, investment and integration.
Lagarde: Our key interest rates are at levels that, maintained for a sufficiently long duration, will make a substantial contribution to ensuring that inflation returns to our 2% medium-term target in a timely manner.
Inflation is transitory. https://t.co/bdVpC6aqM6
🔴 ECB'S PRESIDENT LAGARDE: LABOUR COST INCREASES ARE PARTLY BUFFERED BY PROFITS AND ARE NOT BEING FULLY PASSED ON TO CONSUMERS.
European Parliament Plenary Debate On The ECB Annual Report https://t.co/YBagM3XO98
🔴 ECB'S PRESIDENT LAGARDE: THERE ARE INCREASING SIGNS OF A BOTTOMING-OUT IN GROWTH AND SOME FORWARD-LOOKING INDICATORS POINT TO A PICK-UP LATER THIS YEAR.
Live now: President @Lagarde attends the @Europarl_EN plenary session on the ECB Annual Report for 2022. Follow the webcast here https://t.co/4sh38ezktA https://t.co/QaoceUhILZ
European Central Bank head, Christine Lagarde: "Climate change" requires a complete redesign of the economy and financial system, in line with Net Zero—including the need to "reduce our carbon footprint in everything we do, from banknotes to how we supervise banks." Yes, they're… https://t.co/mCZMcpI3VD
Coming up from 17:00 CET: President Christine @Lagarde attends the @Europarl_EN plenary session on the ECB Annual Report for 2022. Follow the webcast here https://t.co/4sh38ezSj8 https://t.co/BJb2GLDVOB