Lagarde Says ECB Discussed Euro, Does Not Target FX Rate

The transcript discusses the European Central Bank's focus on price stability and the impact of euro appreciation on prices. It evaluates the effectiveness of the pandemic emergency purchase program (PEP) in stabilizing financing conditions and addressing fragmentation risks. The ECB acknowledges PEP's success and plans to maintain an accommodative monetary policy, utilizing the full PEP envelope to support policy development.

What is the primary mandate mentioned in the text?

How does the appreciation of the euro affect prices according to the text?

What has been acknowledged about the pandemic emergency purchase program?

What is the current stance of monetary policy as described in the text?

What is likely to happen with the full envelope of the pandemic emergency purchase program?