Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave the key interest rates unchanged in December and responds to questions from the press.

Key quotes

"Prospects are especially weak for construction and manufacturing."

The labor market continues to support the economy."

"It's important to swiftly agree on a reform of the EU economic framework."

"The inflation decline was broad-based."

"Inflation is expected to decline more slowly in 2024."

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

"Some inflation expectation indicators are declining from elevated levels."

"Risks to growth are skewed to the downside."

About ECB's press conference

Following the ECB´s monetary policy decisions, the ECB President delivers a prepared statement and responds to questions from the press on the policy outlook. Her comments may influence the volatility of EUR and determine a short-term positive or negative trend. Her hawkish view is considered as positive, or bullish for the EUR, whereas her dovish view is considered as negative, or bearish.