ECB press conference (LIVE)

The European Central Bank has decided to lower its key interest rates by 25 bp. The governing councill, with the ECB president Christine Lagarde at the forefront, is about to comment on the decision and provide the outlook for the monetary policy for the upcoming months.

You'll find the key comments from the ECB's Lagarde below:

• ECB sees slower economic recovery that previously expected. The Eurozone growth is projected to achieve 0,7% in 2024, 1,1% in 2025, 1,4% 2026 and 1,3% 2027, with rising income being the main driver, allowing for higher private consumption and investment.
• The raise in inflation to 2,3% was expected by the ECB and remains on track to get back to the 2% in medium term. The monetary policy remains restrictive. ECB is not precommiting to any rate path, keeping the data-oriented and meeting-by-meeting approach.
• Firms' investment is undermined by weak demand and volatile economic outlook, hindering innovation and competitivness in the Eurozone.
• The main risks englobe the staggered economic growth and activity, as well as trade frictions between major economies, which could make the inflation outlook uncertain. 
• The ECB didn't discuss the neutral rate during last meeting. Lagarde underlined that neutral rate cannot be determined under the current level of uncertainty regarding EU member states and US election outcome.