Lagarde speech: ECB scenarios indicate uptick in growth in 2021

Following the European Central Bank's (ECB) decision to leave its interest rates unchanged, Christine Lagarde, President of the ECB, is responding to questions from the press.

Key takeaways

"Did not discuss extending PELTRO beyond banks."

"Not closing door to lending to non-banks."

"ECB scenarios indicate uptick in growth in 2021."

"Will see significantly reduced inflation."

About ECB President Lagarde

The European Central Bank's President Christine Lagarde, born in 1956 in France, has formerly served as Managing Director of the International Monetary Fund, and minister of finance in France. She began her eight-year term at the helm of the ECB in November 2019. As part of her job in the Governing Council, Lagarde holds press conferences in detailing how the ECB observes the current and future state of the European economy. Her comments may positively or negatively the euro's trend in the short-term. Usually, a hawkish outlook boosts the euro (bullish), while a dovish one weighs on the common currency (bearish).