Lagarde speech: Near-term outlook deteriorated

Christine Lagarde, President of the European Central Bank (ECB), is delivering her remarks on the policy outlook and responding to questions from the press following the Governing Council's decision to hike key rates by 25 basis points in July.

Key takeaways

"The near-term outlook has deteriorated."

"Manufacturing held down by weak external demand."

"Services is more resilient but momentum slowing."

"The labour market remains robust."

"We welcome the Eurogroup statement on the Euro area fiscal stance."

About ECB's press conference

Following the ECB´s monetary policy decisions, the ECB President delivers a prepared statement and responds to questions from the press on the policy outlook. Her comments may influence the volatility of EUR and determine a short-term positive or negative trend. Her hawkish view is considered as positive, or bullish for the EUR, whereas her dovish view is considered as negative, or bearish.