ECB’s President Lagarde
- Job creation in the services sector is moderating and overall momentum is slowing
- Inflation continues to decline but is still expected to remain too high for too long
- We aim to conclude review of ECB framework by spring 2024
The euro is down 30 pips to 1.0621 and is at the lows of the day. Negative comments on the economy from the ECB certainly don’t help.