European Central Bank (ECB) President Christine Lagarde said at a Financial Times event on Friday that the interest rate level, if sustained long enough, will contribute to returning inflation to target, per Reuters.

Lagarde noted that there might be some upticks in inflation in the months ahead and added that they were uncomfortable that the EU fiscal framework has not been agreed upon yet.

Market reaction

These comments failed to trigger a reaction in the Euro. As of writing, EUR/USD was up 0.15% on the day at 1.0682.