Lagarde speech: Many assumptions for downside scenario have not materialised

Christine Lagarde, President of the European Central Bank (ECB), is delivering her remarks on the policy outlook and responding to questions from the press following the Governing Council's decision to hike key rates by 75 basis points in October.

Key takeaways

"May need to go beyond normalisation."

"We might have to raise rates at several meetings."

"Will open 3 additional windows for TLTRO repayment."

"Many of our assumptions for the downside scenario in projections have not materialised."

"We must focus on our mandate, price stability, and deliver on that."