ECB's Lagarde: Any tightening measure now would cause more harm than good

Eren Sengezer FXStreet

Commenting on the European Central Bank's (ECB) policy outlook, ECB President Christine Lagarde said on Monday that any tightening measure now would cause more harm than good to the economy, as reported by Reuters.

Lagarde refrained from touching on what the policy strategy would look like in 2023.

Market reaction

These remarks don't seem to be having a noticeable impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was virtually unchanged on a daily basis at 1.1453.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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