ECB Pres. Lagarde is speaking and says:
- If inflation criteria met, it would be appropriate to reduce the current level of monetary policy restriction
- At the same time, the governing Council is not pre-committing to a particular Redpath (ok…)
- Surveys point to a gradual recovery over the course of the year.
- The disinflation process is expected to continue.
- Risks to the inflation outlet are two-sided.
She hasn’t said (yet) that ECB policy is independent of what the Federal Reserve does. Will be on the lookout for that comment.
This article was written by Greg Michalowski at www.forexlive.com. Source