Lagarde: ECB ready to take action needed to ensure price and financial stability

European Central Bank President Christine Lagarde said on Friday that the central bank stands ready to take whatever action is needed to ensure price stability and financial stability in the Eurozone.

Lagarde said that it would be premature to assess the exact impact of the conflict in Ukraine just yet, but warned that the two main channels for the economy would be via prices and confidence.

Uncertainty is likely to act as a drag on consumption and growth, she continued, adding that optionality and flexibility remain needed. We’ll analyse on March 10 what to do next.

Lagarde stressed that ECB is closely monitoring evolving situation and that comprehensive assessment will be basis on 10 March.