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ECB: Nothing Too Market Moving In Lagarde's Remarks

ECB
BundesbankCentral Bank NewsFixed Income BulletsCEEMEAEurozoneGermanyBulletMarketsEuropean Central BankForeign Exchange Bullets

ECB President Lagarde's speech at the Economy Watcher's conference doesn't contain too much new or market moving. Two highlights:

  • "A general conclusion emerges: when the size and distribution of shocks becomes highly uncertain, we cannot provide certainty by committing to a particular rate path. Otherwise, forward guidance may constrain policy agility in the face of abrupt changes to the inflation environment."
  • "Trade fragmentation and higher defence spending in a capacity-constrained sector could in principle push up inflation. Yet US tariffs could also lower demand for EU exports and redirect excess capacity from China into Europe, which could push inflation down".
  • "My main message is that in an environment of uncertainty, a strong commitment to maintaining price stability over the medium term is more important than ever"..."As a result, we will need to continue steering the public’s expectations. People will be looking to us – and other policymakers – to understand how we will navigate this more volatile era and help reduce, rather than amplify, uncertainty".

 

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ECB President Lagarde's speech at the Economy Watcher's conference doesn't contain too much new or market moving. Two highlights:

  • "A general conclusion emerges: when the size and distribution of shocks becomes highly uncertain, we cannot provide certainty by committing to a particular rate path. Otherwise, forward guidance may constrain policy agility in the face of abrupt changes to the inflation environment."
  • "Trade fragmentation and higher defence spending in a capacity-constrained sector could in principle push up inflation. Yet US tariffs could also lower demand for EU exports and redirect excess capacity from China into Europe, which could push inflation down".
  • "My main message is that in an environment of uncertainty, a strong commitment to maintaining price stability over the medium term is more important than ever"..."As a result, we will need to continue steering the public’s expectations. People will be looking to us – and other policymakers – to understand how we will navigate this more volatile era and help reduce, rather than amplify, uncertainty".