Lagarde speech: Food and energy prices potential upside risk to inflation

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

"Domestic price pressures are becoming important drivers of inflation."

"Some long-term inflation indicators remain elevated; they need to be monitored closely."

"Economic and inflation outlook remain highly uncertain."

"Food and energy prices are potential upside risks to inflation."

"Adverse weather may push up food prices more than projected."

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.