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 75 basis points in October.

Key takeaways

"Supply bottlenecks are easing."

"Depreciation of the euro has added to inflation."

"Price pressures are evident in more and more sectors."

"Strong labour market to support higher wages."

"Incoming data and recent wage agreements indicate that wage dynamics may be picking up."

"Most measures of longer-term inflation expectations around 2%."

"Recent above-target revisions warrant continued monitoring."

"Risks to growth are clearly on the downside, in particular in the near term."

"Risks to the inflation outlook are primarily on the upside."