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 50 basis points in December.

Key takeaways

"Wages to growth at rates well above historic averages."

"Most measures of underlying inflation around 2%."

"Further above-target revisions in some indicators warrant monitoring."

"Risks to growth on the downside, especially in the near term."

"Risk to inflation primarily on the upside."

"Banks in the Eurozone have adequate capital."