Christine Lagarde, President of the European Central Bank (ECB), explains the ECB’s decision to raise key rates by 25 basis points (bps) at the September policy meeting and responds to questions from the press.
Key quotes
“This is predominantly a supply shock.”
“Markets do what they have to do.”
“Discussion was focused on today’s decision, did not debate future rate path.”
“Not taking a view on which direction to go at next meeting.”
“Uncertainty can change things almost overnight.”
“Can’t anticipate what will be the next move.”
“Neutral rate band is a work in progress on constant basis.”
“Neutral band highly conceptual.”
“Not attaching great importance to neutral rate.”
“Decision was a no brainer.”
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