In her speech before the Economic and Monetary Affairs Committee (ECON) of the European Parliament in Brussels, the President of the European Central Bank (ECB), Christine Lagarde, reiterated that the pressure on prices remains strong in the euro zone.
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“Underlying inflationary pressures remain elevated.”
“There is no clear evidence that core inflation has peaked.”
“Wage pressures have strengthened further.”
“Decisions will continue to be based on our assessment of the inflation outlook in light of incoming economic and financial data, core inflation dynamics and the strength of monetary policy transmission.”
“Our rate increases are being transmitted strongly to financing conditions.”
“The full effects of our monetary policy measures are starting to materialize.”
“The effects of monetary policy tightening on real activity and inflation can be expected to strengthen in the coming years.”
Market reaction
The pair EUR/USD it did not immediately react to these comments and lost 0.3% on the day to 1.0680.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
