- Lagarde speech: Protectionism is inflationary in short term
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Lagarde speech: Protectionism is inflationary in short term
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to lower the benchmark interest rate by 25 basis points at the December policy meeting and responds to questions from the press.
Key quotes
"I don't think about market pricing of rate hikes."
"We have not discussed neutral rate level in this meeting."
"Protectionism is inflationary in the short term."
"PEPP flexibility has not been used since July 2023."
"US tariffs not incorporated into ECB projections."
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