European Central Bank (ECB) President Christine Lagarde hit the wires on Thursday in an attempt to soothe markets and reaffirm that the ECB is likely done with rate hikes, a nearly forgone conclusion for markets at this point.

Key highlights

• President Lagarde: believes rates have reached peak.
• Euro Area is not in an official recession.
• Fighting inflation often means less growth.
• European salaries are outpacing inflation.
• Lagarde expects Euro Zone inflation at 1.9% by 2025.
• Despite progress, doesn't mean inflation decline will be smooth.