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Lagarde: Inflation To Ease Next Year, Finance Conditions Remain Favourable

ECB

Pres Lagarde begins the press conference:

  • The euro area continues to recover strongly but momentum has moderated. Consumers continue to be confidence and their spending remains strong.
  • Shortages of equipment and labour is holding back some sectors. Inflation is rising primarily because of the surge in energy prices but also because demand is outstripping supply. We forecast inflation rising further in the near term and then declining in the course of next year.
  • Market interest rates have increased since the last meeting but financing conditions remain favourable for firms, households and the public sector. This is essential for the economy to recover and counter the negative impact of the pandemic on the inflation path.
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