Lagarde speech: We Expect Growth to Improve Strength in The Second Half of The Year

Christine Lagarde, President of the Europen Central Bank (ECB), is delivering her comments on the monetary policy outlook in a press conference following the ECB’s decision to leave the policy settings unchanged in June. Here are the most important quotes from her speech

“We expect growth to improve strongly in the second half of the year.”

“Risks in near term are broadly balanced.”

“Underlying price pressures are subdued due to slack.”

“Headline inflation remains below aim over the horizon.”

“Financing conditions are broadly stable.”

“Inflation is expected to decline again at the start of 2022.”

“Underlying price pressures are expected to increase somewhat this year.”

“Once the pandemic impact fades, underlying inflation will gradually rise in medium term.”

“Temporary factors are behind inflation projection rise.”

“Core inflation is projected to rise to 1.1% in 2021 to 1.3% in 2022, 1.4% in 2023.”

“Market rates have risen further.”

“Rates could tighten financing conditions.”

“ECB will continue to monitor foreign exchange rate.”

“Surveys point to a sizable improvement in the second quarter.”

“Surveys indicate a strong services recovery.”