Lagarde speech: Attentive to all commodity markets, supply bottlenecks

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

"We'll be particularly attentive to all commodity markets, supply bottlenecks."

"We'll be attentive to selling prices for firms."

"We'll be attentive to all demand indicators, wage trackers."

"In baseline, there is a bit of propagation from energy."

"Severe scenario has price of oil and gas significantly up and then falls back to baseline by end of horizon."

"In severe scenario oil price falls back beyond end of projection horizon."

"There is significant difference between scenarios."