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Lagarde: Didn't Think About A "Skip"

ECB
Q: Bank of Canada recently restarted rate hikes as it thought neutral rate had risen versus its previous estimate. Do you think similarly?
  • A: Difficult to say re BOC as we haven't paused. Don't think we are where we need to be to reach target.

Q: Would ECB consider skipping rate rises at certain meetings and leave decisions to just forecast meetings?

  • A: Not discussed at all, not even thought about it because "we have work to do."
Q: How far do you look at the harm policies are doing to economy?
  • A: Objective is very clear. Destination is known, journey is not over and have ground to cover. Will be as restrictive as is needed to reach destination. Under the current parameters 2.2% in 2025 is not acceptable and that is why we made the decision today.

Q: Re TLTRO repayment clashing with end of APP reinvestments. What is the impact of this?

  • A: TLTRO repayment due now is known and has been known. Have facilities in place if there are issues.
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