ECB's Lagarde: Will conclude APP in the third quarter
|European Central Bank (ECB) President Christine Lagarde said on Wednesday that the incoming data support the ECB's view on the inflation outlook and noted that they will conclude the Asset Purchase Programme (APP) in the third quarter as planned.
Key takeaways via Reuters
"Ukraine conflict is starting to drain confidence."
"Households are becoming more pessimistic and could cut back on spending."
"Business investment is likely to be affected."
"The longer the war lasts, the higher the economic costs will be and the greater the likelihood we end up in more adverse scenarios."
"Europe needs a plan to ensure that the necessary investment comes online as quickly and smoothly as possible."
"In the context of the ongoing conflict, we will take whatever action is needed."
Market reaction
These comments don't seem to be having a noticeable impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was up 0.4% on the day at 1.1128.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.