5:51 PM · 15 February 2023

BREAKING: Lagarde still willing to raise rates by 50bp in March!

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President Lagarde's speech has just begun and head of ECB

provide some comments regarding the current economic situation and banks future plans.

Key Highlights:

wages are growing faster
the reduction parameters of the APP program will be similar to those of the past
Lagarde maintains its will to raise rates by 50bp in March
Economic activity will remain weak in the short term
Decisions on future ECB decisions will be taken from meeting to meeting
price pressures remain strong and inflation remains very high
While confidence is rising and energy prices are falling, we anticipate that activity will remain weak in the short term.

EURUSD pair continues to oscillate around 1.0670 support. Source: xStation5

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Forex

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