Lagarde speech: Makes no reference to current monetary policy

Dhwani Mehta FXStreet

The European Central Bank (ECB) President Christine Lagarde did not touch upon the topic of current monetary policy in her speech at an online event hosted by the European Banking Congress on Friday.

Key quotes

“The coronavirus (COVID-19) pandemic has rightly focused minds on the here and now – on saving lives and securing livelihoods.”

“Our immediate priority has been to protect the economy until widespread immunity is achieved.”

“Yet the pandemic also provides the opportunity to reassess how we will organise our economy in the future.”

Her keynote address was more related to green financing and climate change and therefore, no monetary policy hints come as no surprise.

EUR/USD reaction

EUR/USD wallows near-daily lows of 1.1865, modestly flat on the day, as the US dollar picks up bids on the European open.

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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