Comments from new ECB President Christine Lagarde:

Comments from new ECB President Christine Lagarde:
  • Incoming data point to continued muted inflation pressures
  • Highly accommodative policy still needed
  • We stand ready to adjust all instruments as needed
  • Easier borrowing conditions for firms and households will support the euro area expansion, the ongoing build-up of domestic price pressures and, thus, the robust convergence of inflation to our medium-term aim
  • Says she's committed to symmetry
  • Euro area fiscal stance is 'mildly expansionary'
  • Risks remain tilted to the downside but have become somewhat less pronounced
  • Headline inflation prices -- largely on oil -- are expected to rise in coming months
  • There are some indications of a mild increase in core inflation, in line with previous forecasts
  • Ample degree of stimulus needed to boost inflation

The euro rose on the headline higher, hitting 1.1150.