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.