Lagarde speech: ECB ready to adjust all instruments as appropriate

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

"Incoming data in line with baseline of ongoing moderate growth."

"Manufacturing remains a drag."

"Decelerating employment growth, wages underpin euro area economy."

"Governing council reiterated the need for highly accommodative monetary policy."

"ECB to closely monitor inflation developments."

"ECB ready to adjust all instruments as appropriate."

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.