Lagarde speech: ECB sees 2019 GDP growth at 1.2% vs. 1.1% seen in September

Following the European Central Bank's (ECB) decision to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, Christine Lagarde, President of the ECB, is delivering her remarks on the monetary policy outlook in a press conference.

Key quotes

"ECB sees 2019 GDP growth at 1.2% vs 1.1% seen in September."

"ECB sees 2020 GDP growth at 1.1% vs 1.2% seen in September."

"ECB sees 2021 GDP growth at 1.4% vs 1.4% seen in September."

"ECB sees 2022 GDP growth at 1.4% in initial projection."

"ECB stands ready to adjust all instruments as needed."

"ECB is committed to symmetry."

"Weak international trade, uncertainty weigh on manufacturing."

"Incoming data, surveys point to some stabilisation."

"Services and construction sectors remain resilient."