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Lagarde: General Consensus On The Orientation On Our Strategy

ECB
  • Q: Did the GC discuss a smaller or larger rate hike, or faster or slower QT pace? What do you need to see before pausing hikes?
  • A: Very pleased to tell you there was general consensus on the general economic situation and the general orientation on our strategy. Not everybody agreed on the actual tactics. There was a very broad majority supporting the view we should show perseverance, at a steady pace, stay the course. You will be doing your digging, I can assure you that in terms of strategy/direction/orientation, there was total agreement. Some might have wanted to do a bit more, or a bit less, but eventually we coalesced.
  • [Lagarde repeats guidance from the statement, highlights "KEEPING rates at restrictive levels".] We will sustain the course, not enough to hit and withdraw.

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