Market news
21.01.2021, 13:54

ECB's president Lagarde: ECB monitoring FX for impact on inflation

  • Incoming data confirm previous near-term assessment
  • Eurozone's economy likely contracted in Q4
  • Pandemic poses serious risks; vaccination important milestone
  • ECB ready to adjust all instruments as needed
  • Uncertainty remains high
  • Inflation remains very low
  • Sees downside risks to short term outlook, but less pronounced
  • Renewed infections and lockdowns are disrupting activity
  • Services severely curbed
  • Interest rates to remain at 0 until at least inflation 'robustly converges' to our target of close to, but below 2%
  • Sees upward pressure on inflation over medium term once the pandemic fades
  • Market-based expectations of inflation expectations have increased slightly
  • ECB will monitor developments in exchange rate

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