Lagarde speech: Global environment is likely to remain a drag

Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave key rates unchanged at the December policy meeting and responds to questions from the press.

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Key quotes

"Eurozone economy is resilient."

"Service-led growth to continue in near term."

"Domestic demand main growth engine in years ahead."

"Savings rate should come down."

"Government expenditure on infrastructure and defense should underpin investment."

"Global environment is likely to remain a drag."

"Underlying inflation remains consistent with 2% medium-term target."

"Wage growth to ease in coming quarters before stabilising below 3% towards end-2026."