Lagarde opening statement: Eurozoneo economy has stagnated in recent months

• Borrowing costs have increased steeply and loan growth has slowed
• We will continue to follow a data-dependent approach
• Rates to remain restrictive for 'as long as necessary'
• Manufacturing continues to weaken, while services remain resilient
• The labour market remains a source of strength
• Governments should roll back energy support measures
• Pent up demand continues to drive up inflation, especially in services
• Wage increases are becoming an increasingly-important component of inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term
• Longer-term inflation expectations warrant monitoring
• Outlook for growth and inflation is highly uncertain
• We stand ready to adjust all our instruments within our mandate

The inflation forecasts were released earlier: