Lagarde speech: ECB sees 2020 inflation at 1.1% vs. 1.0% seen in September

Following the European Central Bank's (ECB) decision to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, Christine Lagarde, President of the ECB, is delivering her remarks on the monetary policy outlook in a press conference.

Key quotes

"Risks to growth tilted to the downside."

"Downside risk somewhat less pronounced."

"Dased on futures, inflation is expected to rise somewhat in coming months."

"Underlying inflation generally muted."

"Some indication of mild increase in underlying inflation."

"ECB sees 2019 inflation at 1.2% vs 1.2% seen in September."

"ECB sees 2020 inflation at 1.1% vs 1.0% seen in September."

"ECB sees 2021 inflation at 1.4% vs 1.5% seen in September."

"ECB sees 2022 inflation at 1.6% in initial projection."