The ECB conference call on the Central Bank's decision to cut the deposit rate by 25 basis points has just begun, in line with analysts' expectations. Below, you can find the main points made by President Lagarde:
- Incoming data suggests that activity is weaker than expected.
- Households consumed less than expected.
- Latest data points to more sluggish growth.
- We expect the economy to strengthen over time.
- Domestic inflation is still strong.
- Inflation to drop to target in 2025.
- Risks to growth are on the downside.
- Geopolitical tensions are an upside inflation risk. Downside risks to inflation include low confidence, geopolitical stress and low investment.
- Financing conditions remain restrictive.
- I am still looking at soft landing.
- I don't see a recession in the Eurozone.
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