ECB’s Lagarde: Many causes of higher prices are temporary

In an interview with CNBC, the European Central Bank (ECB) President Christine Lagarde expressed her take on rising price pressures, dismissing higher inflation as temporary.

Key quotes

“See return to much more stability in a year to come.”

“Still quite a lot of slack in terms of employment.”

“Will see movement on the inflation front.”

Market reaction

EUR/USD is keeping its range play intact below 1.1750 on the above comments, pressured by a broad US dollar rebound. The spot was last seen changing hands at 1.1735, unchanged on the day.

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