Lagarde (Bce): "Economia nel breve termine debole, ma restano condizioni per ripresa"

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Transcript

00:00Most measures of underlying inflation suggest that inflation will settle at around our target

00:09on a sustained basis. Domestic inflation remains high, mostly because wages and prices in certain

00:18sectors are still adjusting to the past inflation surge with a substantial delay. But wage growth

00:26is moderating, as expected, and profits are partially buffering the impact on inflation.

00:35Our recent interest rate cuts are gradually making new borrowing less expensive for firms

00:42and households. At the same time, financing conditions continue to be tight, also because

00:49our monetary policy remains restrictive, and past interest rate hikes are still transmitting

00:56to the stock of credit, with some maturing loans being rolled over at higher rates.

01:04The economy is still facing headwinds, but rising real incomes and the gradually fading

01:11effects of restrictive monetary policy should support a pick-up in demand over time.