Comments from Lagarde in the opening statement
- Q2 contraction will be unprecedented
- Prices to continue to be depressed by economy
- ECB determined to ensure needed degree of stimulus
- ECB will do everything possible within its mandate
- ECB ready to adjust all instruments as needed
- Some bottoming out of economy seen in May
- Economy expected to rebound in Q3
- Recovery speed and scale remain highly uncertain
- Sees 202 GDP at -8.7%
- Fulll text
Aside from these headlines, she's reading the statement word-for-word. The euro has given back most of its gains and is up just 25 pips from pre-statement levels.
