The European Central Bank is the central institution of the Economic and Monetary Union and has been responsible for conducting monetary policy for the euro area since 1999. The President of the European Central Bank (ECB) takes part four times a year in a monetary dialogue with Parliament's Committee on Economic and Monetary Affairs (ECON) to report on monetary policy. MEPs of the Committee on Economic and Monetary Affairs (ECON) debate with Christine LAGARDE the latest developments of the monetary policies of the European Central Bank. This news item shows extracts from the Monetary Dialogue with Parliament's Committee on Economic and Monetary Affairs (ECON).

Brussels

meeting

Committee on Economic and Monetary Affairs

economic dialogue (T)

LAGARDE, Christine (FR)

Economic Dialogue with Christine LAGARDE, ECB President: extracts

External shot of the European Parliament in Brussels

Arrival of Christine LAGARDE, President of the European Central Bank, to the ECON Committee

Welcome and introduction by Irene TINAGLI (S&amp;D, IT), ECON Chair, to the Economic Dialogue with Christine Lagarde

SOUNDBITE (English), Christine LAGARDE, ECB President, This legislative term has been shaped by a succession of crises, from Covid 19 to Russias invasion of Ukraine, the energy crisis, renewed conflict in the Middle East to name a few. These challenges have required EU institutions within our respective mandates to take decisive action and to coordinate closely across policy areas to ensure that Europe emerges stronger and better prepared for the future.

SOUNDBITE (English), Christine LAGARDE, ECB President, According to the latest estimate, inflation as you indicated, edged down to 2.8% in January 2024, after increasing by half a percentage point in December. This rebound in December from November had been widely expected, but was actually weaker than we had anticipated.

SOUNDBITE (English), Christine LAGARDE, ECB President, Overall, the latest data confirm the ongoing disinflation process and is expected to bring us gradually further down over 2024 as the impact of past upward shocks fades and tight financing conditions help to push inflation down.

SOUNDBITE (English), Christine LAGARDE, ECB President, We decided to keep our key policy interest rate unchanged. These interest rates are at level that maintained for a sufficiently long duration will make a substantial contribution to ensuring that inflation returns to our 2% medium term target in a timely manner.

Cutaways of the Economic Dialogue with Christine Lagarde during the ECON Committee (11 shots)