ECB's Lagarde: Will maintain optionality in current conditions of high uncertainty
|Below are key highlights from the statement by Christine Lagarde, President of the European Central Bank, for delivery at the forty-fifth meeting of the International Monetary and Financial Committee.
"The economy is reopening, the labour market continues to improve, the high levels of savings accumulated during the pandemic can be used to partly cushion the energy price shock, and ample policy support remains in place."
"Inflation will be higher if the prices of energy and other commodities increase further and new supply bottlenecks arise."
"We continue to carefully monitor risks to the inflation outlook."
"Our monetary policy will depend on the incoming data and our evolving assessment of the outlook."
"In the current conditions of high uncertainty, we will maintain optionality, gradualism and flexibility in the conduct of monetary policy."
Market reaction
These comments don't seem to be having a significant impact on the shared currency's performance against its major rivals. As of writing, EUR/USD was up 0.5% on the day at 1.0905.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.