Lagarde speech: Still have work to do to bring inflation back down to our target

In an interview with La Provence on Friday, European Central Bank (ECB) President Christine Lagarde said, “we still have work to do to bring inflation back down to our target.”

Additional quotes

“The priority is to maintain price stability.”

“Inflation has started to decline.”

“A part of that is the initial impact of monetary policy decisions.”

“But inflation is still higher than the 2% target, still have work to do.”

Market reaction

Lagarde’s comments fail to move the needle around the Euro, as EUR/USD keeps its range just shy of the 1.0900 level, awaiting US NFP data for fresh trading impetus.