Lagarde speech: “Stay the course” is my mantra on monetary policy

 European Central Bank (ECB) President Christine Lagarde is speaking in a panel discussion titled “Global Economic Outlook: Is this the End of an Era?” at the World Economic Forum (WEF), in Davos this Friday.

Key quotes

“Stay the course” is my mantra on monetary policy.

China’s reopening will have inflationary pressure.

Fiscal shouldn’t force monetary policy to do more.

The ECB doesn’t target an exchange rate.

Market reaction

At the time of writing, EUR/USD is keeping its range near 1.0850, up 0.15% on the day.