Speaking on the sidelines of the World Economic Forum (WEF) Annual Meeting in Davos, European Central Bank (ECB) President Christine Lagarde said that she is “confident inflation will reach the 2.0% target.”
Additional quotes
Inflation is not where the ECB wants it.
But on the right path towards the 2.0% target, though no victory yet.
Too optimistic markets not helpful in fight against inflation.
We can’t shout victory until inflation sustainably at 2.0%.
We’re watching wages, profit margins, energy and supply chains.
Second-round effects would be cause for concern.
The ECB has achieved peak rates, short of a major shock.
It is likely that we will cut rates by the summer.
Market reaction to Lagarde speech
At the time of writing, EUR/USD is off the five-week lows of 1.0855, trading flat at 1.0868.
Euro price today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Pound Sterling.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.06% | -0.11% | 0.20% | 0.58% | 0.41% | 0.37% | 0.12% | |
| EUR | -0.06% | -0.17% | 0.15% | 0.52% | 0.37% | 0.34% | 0.05% | |
| GBP | 0.12% | 0.16% | 0.31% | 0.67% | 0.52% | 0.48% | 0.21% | |
| CAD | -0.20% | -0.15% | -0.32% | 0.37% | 0.21% | 0.17% | -0.11% | |
| AUD | -0.58% | -0.52% | -0.68% | -0.38% | -0.15% | -0.19% | -0.47% | |
| JPY | -0.43% | -0.36% | -0.56% | -0.23% | 0.15% | -0.06% | -0.31% | |
| NZD | -0.39% | -0.32% | -0.49% | -0.17% | 0.19% | 0.04% | -0.28% | |
| CHF | -0.11% | -0.05% | -0.21% | 0.09% | 0.46% | 0.31% | 0.27% |