European Central Bank (ECB) President Lagarde Speech
The European Central Bank President Christine Lagarde Speech reflects the official position of the European Central Bank, therefore every speech is carefully examined by the market participants and analysts.
Christine Lagarde previously was Chair and Managing Director of the IMF and Minister of Economy of France. She is the President of the ECB since November 1st, 2019. She often speaks in public: in addition to obligatory speeches in the European Parliament and its Committees, she participates in international economic forums, speaks at congresses and conferences, reads out the ECB's official statements (for example, Christine Lagarde often holds the ECB's monetary policy press conference), and even lectures to students of leading world universities.
The President of the European regulatory body is the one who has the maximum influence on euro quotes among all other employees of the ECB and the EU supervisory bodies. The President has access to the full information on the intentions of the ECB Board and the opinions of its separate members. Therefore, Lagarde's statements are carefully monitored by analysts and economists. The texts of the speeches are published on the ECB website.
If Christine Lagarde's rhetoric suggests possible developments in the future monetary policy, such as the upcoming tightening or easing, this may have a short-term positive effect on the euro. If she positively characterizes the labor market in the eurozone or states the inflationary growth, this can also be seen as positive for euro quotes. All these factors can give investors a hint of a near-term increase in the ECB's interest rate.