Lagarde speech: Not seeing second round effects or wage-price spiral

Christine Lagarde, President of the European Central Bank (ECB), is delivering her remarks on the policy outlook and responding to questions from the press following the Governing Council's decision to hike key rates by 25 basis points in June.

Key takeaways

"We had a harmonious discussion at the meeting."

"There was a very broad consensus behind the decision."

"There is some lag, but not that much, between 18 and 24 months."

"End of APP reinvestments should be well absorbed by markets."

"We see wages continuing to increase in the future."

"Services to continue to go strongly."

"We're not seeing 2nd round effects or a wage-price spiral."

About ECB's press conference

Following the ECB´s monetary policy decisions, the ECB President delivers a prepared statement and responds to questions from the press on the policy outlook. Her comments may influence the volatility of EUR and determine a short-term positive or negative trend. Her hawkish view is considered as positive, or bullish for the EUR, whereas her dovish view is considered as negative, or bearish.