European Central Bank Press Conference
Event Date: Thursday, July 22, 2021
Event Time: 12:30 CET
Lagarde to Offer More Dovish Remarks?
Updated Wednesday, July 14, 2021
Inflation slipped below 1% in the Eurozone last year, while core CPI inflation remains at 1.0%, which is the low minimum for the ECB. The economy of the Eurozone has turned pretty weak recently and the ECB had turned dovish as well. Markets are pricing in two 10 bps rate cuts by the ECB this year. So, this press conference will be really interesting to hear to see what steps the ECB will take to stop the economic slowdown after cutting deposit rates once in September and announcing the reintroduction of the QE proramme. Markets were expecting another rate cut, but inflation has stabilized just above 1% now. Although, the spread of coronavirus has turned all central banks very dovish, cutting interest rates many times in March. Now let's see what their plans are, since the Eurozone economy is showing some signs of strong recovery across all sectors, including inflation. Please follow us for live coverage of this event by experienced market analysts.
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About European Central Bank Press Conference
The ECB press conference is held at the ECB European Central Bank headquarters where ECB president Mario Draghi and vice president Luis De Guindos speak. The conference is about an hour long. It is divided into two parts. During the first part, the speaker reads a prepared statement, also called the interest rate statement. The second part is a question and answers session where the ECB president and vice president take questions. As in other speeches from central bankers, forex traders try to decipher clues from the speeches. Although, unlike some speeches, the ECB press conference always discusses monetary policy. This is the primary way the ECB communicates with the public regarding the monetary policy. It generally covers, in detail, the Central Banks’ views on the Eurozone economy and inflation expectations. The questions often lead to unexpected answers, therefore high volatility is expected during the press conference.
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