ECB’s Lagarde: Price stability is at the centre of the central bank’s work

Dhwani Mehta FXStreet

In a scheduled speech on Wednesday, the European Central Bank (ECB) President Christine Lagarde said, “price stability is at the centre of the central bank’s work.”

Separately, ECB’s Chief Economist Phillip Lane said that “sweet spot is low inflation with buffer above zero,” adding that “it is a very bad idea for inflation to go negative.

Market reaction

The above comments fail to have any impact on the shared currency, as EUR/USD clings to four-week highs above 1.1860, gaining 0.34% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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