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- Lagarde speech: Unlikely that ECB will state with confidence that peak rates have been reached
Lagarde speech: Unlikely that ECB will state with confidence that peak rates have been reached
European Central Bank (ECB) President Christine Lagarde is delivering introductory remarks on day two of the ECB Forum on Central Banking, in Sintra, on Tuesday.
Also read: Lagarde speech: Need to bring rates into ‘sufficiently restrictive’ territory to lock in our policy tightening
Key quotes
We must ensure that inflation expectations remain anchored as the wage catch-up process plays out.
We have not yet seen the full impact of the cumulative rate hikes we have decided on since last July.
if firms were to regain 25% of the lost profit margin that our projections foresee, inflation in 2025 would be substantially higher than the baseline – at almost 3%.
It is unlikely that in the near future the central bank will be able to state with full confidence that the peak rates have been reached.
This is why our policy needs to be decided meeting by meeting and has to remain data-dependent.
Rates are to stay elevated for as long as necessary.
Market reaction
EUR/USD holds higher ground near 1.0940 on Lagarde’s hawkish remarks, up 0.32% so far.
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