Lagarde speech: Wage pressures becoming increasingly important source of inflation

Christine Lagarde, President of the European Central Bank (ECB), is delivering her remarks on the policy outlook and responding to questions from the press following the Governing Council's decision to hike key rates by 25 basis points in June.

Key takeaways

"Euro area growth is likely to stay weak, then strengthen."

"Manufacturing continues to weaken."

"Governments should roll back energy support measures."

"Past increases in energy are still pushing up prices, along with pent-up demand."

"Wage pressures are becoming an increasingly important source of inflation."

"Firms in some sectors able to keep profits high."

"Longer term inflation expectations warrant monitoring."

About ECB's press conference

Following the ECB´s monetary policy decisions, the ECB President delivers a prepared statement and responds to questions from the press on the policy outlook. Her comments may influence the volatility of EUR and determine a short-term positive or negative trend. Her hawkish view is considered as positive, or bullish for the EUR, whereas her dovish view is considered as negative, or bearish.