ECB's Lagarde: Inflation profile looks like a hump
|European Central Bank (ECB) President Christine Lagarde came out on Saturday to speak about the economic and inflation outlook but she said more or less the same thing she communicated during her appearance at the Reuters event on Friday.
Key quotes
We're at the high level of the hump.
A hump shape eventually declines and we project inflation to decline in 2022.
Do not know how fast omicron will propagate in the euro area.
Economic impact will depend on virus measures taken.
Another virus wave was included in ECB's adverse scenario, we're still in range.
Market reaction
EUR/USD was last seen trading at 1.1294, losing 0.16% on the day. The US dollar rebounds with the Treasury yields, weighing down on the main currency pair.
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