Lagarde speech: Reduction of PEPP purchases not discussed

Christine Lagarde, President of the Europen Central Bank (ECB), is delivering her remarks on the monetary policy outlook in a press conference following the ECB's decision to leave the policy settings unchanged.

Key takeaways

"There are clearly signs of improvement in the economy."

"Also clearly seeing continued contagion, pressure on health sectors."

"There has been an increase in PEPP and will continue to be that way."

"Reduction of PEPP purchases not discussed."

"It's premature to discuss tapering."

"Reduction of PEPP is data dependent, not based on calendar."

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).