Lagarde speech: Market bets on rate hikes are not in line with guidance

Christine Lagarde, President of the Europen Central Bank (ECB), added to her earlier comments on the monetary policy outlook at the post-meeting press conference:

Key quotes:

  • Market bets on rate hikes are not in line with guidance.
  • Our analysis certainly does not support that the conditions of our forward guidance are satisfied at the time of lift-off as expected by markets, nor any time soon thereafter.
  • The slowdown of PEPP purchases isn't tapering.

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