Lagarde speech: Headline inflation likely to hover around current levels in coming months

Following the European Central Bank's (ECB) decision to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, Christine Lagarde, President of the ECB, is delivering her remarks on the monetary policy outlook in a press conference.

Key quotes

"Survey, data point to some stabilisation."

"Near-term growth expected to be similar to rates in similar quarters."

"Weak trade , global uncertainties weigh on euro area manufacturing, investment."

"Services and construction sectors resilient, despite moderation."

"Risks tilted to downside but less pronounce."

"Headline inflation likely to hover around current levels in coming months."

About ECB’s Lagarde

The European Central Bank's President Christine Lagarde, born in 1956 in France, has formerly served as Managing Director of the International Monetary Fund, and minister of finance in France. She began her eight-year term at the helm of the ECB in November 2019. As part of her job in the Governing Council, Lagarde holds press conferences in detailing how the ECB observes the current and future state of the European economy.