Lagarde opening statement: Current inflation increase largely temporary

Author: Adam Button | Category: Central Banks

Comments from the ECB President in the opening statement

Lagarde Sept 9, 2021
  • Rebound in recovery increasingly advanced
  • Sees economic activity at pre-pandemic levels at year end
  • Delta spread could delay full reopening
  • Underlying inflation price pressures building up slowly
  • Medium term inflation seen well below target
  • Labour market improving rapidly
  • Improving business optimism is supporting business investment
  • We see the risks to the economy as broadly balanced
  • If supply bottlenecks last longer and feed through to higher-than-expected wage rises, price pressures could be more persistent
  • Full text
The euro treaded water through the opening statement but fell later when she characterized the taper as a 'recalibration'.

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