Lagarde speech: Global environment is likely to remain a drag

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave key rates unchanged at the December policy meeting and responds to questions from the press.

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Key quotes

"Eurozone economy is resilient."

"Service-led growth to continue in near term."

"Domestic demand main growth engine in years ahead."

"Savings rate should come down."

"Government expenditure on infrastructure and defense should underpin investment."

"Global environment is likely to remain a drag."

"Underlying inflation remains consistent with 2% medium-term target."

"Wage growth to ease in coming quarters before stabilising below 3% towards end-2026."

Dec 18, 2025

EUR/USD firms as ECB stays on hold and US CPI misses expectations

The Euro (EUR) regains ground against the US Dollar (USD) on Thursday after the European Central Bank (ECB) kept its three key policy rates unchanged. At the time of writing, EUR/USD trades around 1.1756, reversing higher after dipping to an intraday low near 1.1712.

Lagarde speech: Stronger Euro could bring down inflation

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave key rates unchanged at the December policy meeting and responds to questions from the press.