September 30, 2024 13:11 GMT
ECB: Lagarde: ECB To Take Inflation Confidence Into Account at Oct Meeting
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The key excerpt from ECB President Lagarde's speech to EU Parliament is here:
- "Looking ahead, inflation might temporarily increase in the fourth quarter of this year as previous sharp falls in energy prices drop out of the annual rates, but the latest developments strengthen our confidence that inflation will return to target in a timely manner. We will take that into account in our next monetary policy meeting in October."
Otherwise, the speech re-emphasises the ECB's "data-dependent approach", with the bank "not pre-committing to a particular rate path".
Bunds & Euribor rallied on the above reference to stronger confidence surrounding the fight vs. inflation. EUR a little weaker.
- Not huge moves, but probably the main take away from the initial remarks. More details on market moves to follow.
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