ECB: A new monetary owl on the block - ING

For ECB watchers and financial market participants, learning how to read Christine Lagarde will take some time, according to analysts at ING.

Key quotes

"As regards the short-term outlook for monetary policy, further easing seems to be off the table, at least with the current macro projections, and wait-and-see looks the way forward."

"Today, at least we had the impression that it was not always clear whether Lagarde spoke on behalf of herself or on behalf of – at least the majority of – the ECB’s Governing Council."

"Lagarde took this bull by the horns immediately and started the Q&A session with a long speech on that she had her own style and warned against making comparisons with Mario Draghi and over-interpreting her words."