Lagarde speech: Nobody should expect any central bank to be first responder in crisis

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 responding to questions from the press.

Key quotes

"No monthly predetermined allocation in APP increase."

"Nobody should expect any central bank to be the first responder in crisis."

"We regard current shock as severe but still temporary."

"If the right measures are taken, the economy will bounce back. The exact timing of that is uncertain."