Created
: 2024.09.30
2024.09.30 22:12
While testifying before the European Parliament's Committee on Economic and Monetary Affairs on Monday, European Central Bank (ECB) President Christine Lagarde said that they expect the economic recovery in the Eurozone to strengthen over time.
"Looking ahead, the suppressed level of some survey indicators suggests that the recovery is facing headwinds."
"The labour market remains resilient."
"Employment growth slowed to just 0.2% in the second quarter, and recent indicators point to a further deceleration in the coming quarters."
"Looking ahead, inflation might temporarily increase in the fourth quarter."
"The latest developments strengthen our confidence that inflation will return to target in a timely manner."
"We will take that into account in our next monetary policy meeting in October."
"Policy rates will be kept sufficiently restrictive for as long as necessary to achieve our aim."
"The latest developments strengthen our confidence that inflation will return to target in a timely manner."
"The new data available at the time of the September Governing Council meeting reinforced our confidence in the timely return of inflation to our 2% target.."
EUR/USD came under modest bearish pressure with the immediate reaction to these comments and was last seen trading near 1.1170, where it was virtually unchanged on the day.
Created
: 2024.09.30
Last updated
: 2024.09.30
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy