Comments from Lagarde in the Q&A
- We want durable 2% inflation. It can oscillate a bit
- Inflation cannot be below 2% for rates to rise
- No one wants to tighten prematurely
- PEPP was not discussed
- Capex is picking up, a sign of optimism
Lagarde's comments are having very little impact on markets. Everyone is already pricing in bottomed-out rates indefinitely.
