According to Reuters, Christine Lagarde, president of the European Central Bank (ECB). Predicted on Friday that lagged price pressure will eventually go away. Causing inflation in the Euro area to continue to decline.
In her prepared remarks read aloud at the IMF spring event, Lagarde added, “Historically high wage growth, associated to tight labor markets and compensation for high inflation, will underpin core inflation over the projection horizon, as it progressively recovers to rates around our target.”
ECB Lagarde statement reaction on market
These statements received no immediate response from the EURUSD pair, which was last seen climbing 0.1% daily at 1.1060.
