Lagarde speech: Some governors thought 50 bps hike was appropriate

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Christine Lagarde, President of the European Central Bank (ECB), is delivering her remarks on the policy outlook and responding to questions from the press following the Governing Council’s decision to hike key rates by 25 basis points in May.

“Some ECB governors thought 50 bps hike was appropriate.”

“Nobody advocated unchanged rates.”

“There was a very strong consensus.”

“I don’t have a numerical estimate for sufficiently restrictive.”

“We are not yet seeing the complete impact desired to get to target.”

Following the ECB´s monetary policy decisions, the ECB President delivers a prepared statement and responds to questions from the press on the policy outlook. Her comments may influence the volatility of EUR and determine a short-term positive or negative trend. Her hawkish view is considered as positive, or bullish for the EUR, whereas her dovish view is considered as negative, or bearish.

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