ECB Pres. Lagarde is speaking and says:
- If inflation criteria met, it would be appropriate to reduce the current level of monetary policy restriction
- At the same time, the governing Council is not pre-committing to a particular Redpath (ok...)
- Surveys point to a gradual recovery over the course of the year.
- The disinflation process is expected to continue.
- Risks to the inflation outlet are two-sided.
She hasn't said (yet) that ECB policy is independent of what the Federal Reserve does. Will be on the lookout for that comment.(/s)
