Lagarde speech: We haven't reached the peak in rate, we have ground to cover

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 50 basis points in February.

Key takeaways

"Discussion was marked by contuinity and consistency."

"Very very large consensus today."

"We haven't reached the peak in rate, we have ground to cover."

"We will need to assess pace and level."

"There was general agreement on 50 bps in February and March."

"There was discussion and not full agreement on communication."

"Underlying inflation pressures, fiscal measures, wages all warrant 50 bps hike in March."

About ECB's press conference

Following the ECB´s economic policy decision, the ECB President gives a press conference regarding monetary policy. 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.