Lagarde speech: Well-positioned to deal with major shock unfolding

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

Key takeaways

"War in Middle East tightened financial conditions."

"Short-term rates have risen notably."

"Governing Council was briefed by experts, including military affair professor."

"Mood of Council was calm, determined, laser focussed on information."

"Our decision was unanimous."

"We're well-positioned to deal with the development of a major shock unfolding."

"I cannot give you a timeline."