Reply To: ECB Leaves Rates Unchanged, Expects APP Purchases to End Shortly Before Starts Raising Key Rates


ECB’s Lagarde opening statement:

Inflation to remain elevated for longer than expected
Inflation rise is due to energy
Economy hurt less by pandemic
Growth subdued in Q1
Shortages are restraining activity and remained a headwind
Bottlenecks may be starting to ease but may persist for some time
Inflation increased to 5.1% y/y in January and is likely to remain high in the near term
The direct impact of energy accounted for half of the rise in January
Wage growth is muted