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ECB: Lagarde Q&A: Had Not Anticipated 1.7% Reading, Nor Did Anyone Else

ECB
BundesbankEM BulletCentral Bank NewsCEEMEAEurozoneGermanyGlobalEmerging Market NewsEuropean Central BankBulletMarketsFixed Income BulletsForeign Exchange BulletsRegion
  • Q: Are you in the ECB surprised by such a rapid drop in inflation?
  • A: In the five weeks since the last meeting we receive quite a lot of information. Were we surprised? We had not anticipated the 1.7% reading, nor did anyone else for that matter. We were all a little surprised by the acceleration. It certainly raised our confidence that the disinflationary process is on track. We know that the next three months will not have this linear and below target inflation number, because of obvious base effects.
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  • Q: Are you in the ECB surprised by such a rapid drop in inflation?
  • A: In the five weeks since the last meeting we receive quite a lot of information. Were we surprised? We had not anticipated the 1.7% reading, nor did anyone else for that matter. We were all a little surprised by the acceleration. It certainly raised our confidence that the disinflationary process is on track. We know that the next three months will not have this linear and below target inflation number, because of obvious base effects.