Lagarde speech: Ambitious, coordinated fiscal stance needed

Following the European Central Bank's (ECB) decision to leave its interest rates unchanged while announcing additional asset purchases of €120 billion until the end of the year alongside new TLTROs, Christine Lagarde, President of the ECB, is delivering her remarks on the monetary policy outlook in a press conference.

Key quotes

"Euro area growth to regain traction over medium term."

"Forecast cut-off date pre-dates spread of coronavirus to euro area."

"Underlying inflation remains muted."

"Sharp decline in oil prices poses significant downside risk in inflation outlook."

"Ambitious, coordinated fiscal stance needed."