ECB's Lagarde: Commitment to rate hikes is data dependent

• Intend to raise rates by 25 bps in July
• There is optionality to raise by more in September
• If inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term outlook does not improve, we will have sufficient information to move faster
• Beyond September, a “gradual but sustained” path of further rate increases will be appropriate
• In addressing fragmentation, ECB will use flexibility in reinvesting redemptions coming due under PEPP
• Also decided to accelerate the completion of the design of a new instrument
• The new instrument will have to be effective, while being proportionate and containing sufficient safeguards to preserve sound fiscal policy
• Full speech

There isn't anything there that hasn't already been communicated by their policy decision and her press conference earlier in the month. It is basically a rehash of those details, though she does mention that the new instrument to deal with fragmentation will allow rates to "rise as far as necessary". That leaves a lot up for interpretation I would say.