Lagarde opening statement: We have made substantial progress in withdrawing accommodation

• Inflation remains far too high
• Consumer and business confidence has fallen rapidly
• Expect further economic weakening in remainder of this year and next year
• Expect economy to slow down substantially over remainder of the year
• Cites weaker global demand and also due to tighter monetary policy
• The post-pandemic rebound in services demand is slowing
• Labour market performed well but somewhat higher unemployment possible as economy slows
• Inflation-shielding should be targeted at the most vulnerable
• Risks to economic outlook clearly on the downside, cites war, supply disruptions and weakening world economy
• Risks to the 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 outlook are primarily on the outside, led by retail energy prices
• A weakening of demand would lower prices pressures
• Bank lending to firms remains robust
• We expect to raise interest rates further
• With this third major hike in a row, we have made substantial progress in withdrawing accommodation
• Future decisions will continue to be data dependent and we stand ready to adjust all instruments

There's nothing surprising here.