Lagarde speech: Interest rates best tool we can use

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

Key takeaways

"Stagflation is a term better to be parked in the 1970s."

"We don't apply this term to circumstances today."

"Interest rates are the best tool that we can use."

"Reaction function has 3 anchors."

"Anchors are 2% target, symmetry, type of deviation from target."

"Will publish revised scenarios in June."

"Have abundance of liquidity."

"Did not discuss any new tools."