Lagarde speech: ECB has ‘good progress’ on new strategy

Dhwani Mehta FXStreet

“We made good progress in shaping future monetary policy strategy,” the European Central Bank (ECB) President Christine Lagarde said following the conclusion of a three-day meeting between the 25 members of the central bank’s Governing Council.

"I am glad we were able to have in-depth discussions and we made good progress in shaping the concrete features of our future monetary policy strategy, Lagarde said.

The Council spoke about the ECB’s role in combatting climate change while reviewing its monetary policy stance, including its inflation goal.

Market reaction

The ECB comments have little to no impact on EUR/USD, as it continues to remain at the mercy of the dynamics in the yields and the US dollar.

The spot was last seen trading at 1.1867, up 0.06% 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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