ECB Press Conference: Lagarde comments on policy outlook after lowering key rates by 25 bps
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to lower the benchmark interest rate by 25 basis points at the October policy meeting and responds to questions from the press.
ECB press conference key quotes
"Incoming data suggest that activity is weaker than expected."
"Investment is expanding only slowly."
"Recent surveys point to gradual recovery in household spending."
"Labour market is resilient."
"Surveys suggest slowing employment growth."
"Economy expected to strengthen over time."
"Negotiated wage growth to remain high and volatile over remainder of year."
"Inflation to drop to target in 2025."
"Disinflation supported by receding labour cost pressures, past tightening."
"Most measures of inflation expectations at around 2%."
"Risks to growth are tilted to downside."
"Wages, profits, geopolitics are among upside risks to inflation."
"Downside risks to inflation include low confidence, geopolitical stress, low investment."
"All information since the September meeting was heading lower."
"Any additional trade barriers are a downside for Europe."
"The decision was unanimous."
"Still have risks on both sides of inflation forecast."
"Probably more downside than upside risks to inflation."
"We do not see recession, we are still looking at soft landing."
"Concerned about growth."
"No question that we are currently restrictive."
Source : Fxstreet
