Free Trial

Pres Lagarde: Labour Market Robust But Slowing, Growth Risks To Downside

ECB

ECB President Lagarde begins January's post-meeting press conference with the usual reading of the policy statement, followed by a discussion of the economic landscape and risks to outlook.

  • "The euro area economy is likely to have stagnated in the final quarter of 2023" but survey estimates point to a pick up. Labour market has remained robust... But demand for labour is slowing.
  • The overall trend of declining inflation continued...Inflation expected to continue to fall through 2024.
  • Risks to growth remain to the downside. Same risks highlighted as in December (world economy, global trade, Russian war). Upside risks to growth also unch from Dec.
  • On upside risks to inflation - adds shipping disruptions. (She doesn't specifically mention whether risks are balanced to the upside or downside.)
  • Credit conditions have improved somewhat but remain weak.
  • Now starting Q&A.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.