In her usual press conference after the ECB’s monetary policy meeting, ECB President Christine Lagarde said on Thursday that risks to the eurozone’s inflation outlook are tilted to the upside in the short termas reported by Reuters.
Additional remarks in the first part of the press conference
The ukrainian war It has weighed heavily on trust.
Trade disruptions are causing new shortages.
The rising energy prices it is reducing demand and production.
The extent of these effects depends on the evolution of the conflict.
The recovery of the economy has been boosted by the fading of the covid-19 pandemic.
Inflationary pressures have intensified in many sectors.
The growth will have remained weak in the first quarter of 2022.
The ECB expects slow growth in the coming period.
New pandemic measures in Asia are contributing to the supply chain issues.
A reopening of sectors after the pandemic and the strong labor market will support earnings.
Inflation is being driven primarily by energy.
But inflation is widespread.
The rise in core inflation is uncertain.
The job market is getting even better.
But wage growth remains muted overall.
Initial signs of inflation expectations moving above target warrant monitoring.
The risks to the economic outlook tilt to the downside.
Downside risks have increased substantially.
Source: Fx Street
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