ECB members count inflation job Nearly Done But Tariff Risks Loom


Guests and Attendeess Mingle and Walk Through The Atrium Drying The IMF / World Bank Group Spring Meetings at The IMF Headquarters in Washington, DC, On April 24, 2025.

Jim Watson | AFP | Getty Images

After Years Dominated by The Pandemic, Supply Chains, Energy and Inflation, There Was A New Topping The Agenda At The World Bank and International Monetary Fund’s Spring Meetings This year: Tariffs.

The IMF Set The Tone By Kicking Off The Week With The Release Of ISS Latest Economic Forecasts, WHCH Cut Growth Outlooks for The Us, Uk swear Many Asian Countries. While Economists, Central Bankers and Politicians Have Been Engaged in Panels and Behind-the-Scenes Talks, Many Are Attempting To Work Out Whether Trade Tensions Between China and The US aver – OR perhaps ave note – Cooling.

From Policymakers The European Central Bank That Cnbc Spoke To This Week Broadly Stuck A Dovish-Leaning Tone, Indicating They Saw Interest Rates Continuing to Fall and Few Upside Risks to euro zone inflation. However, All Stressed The Current High Levels Of Uncertainy, The Need To Keep Monitoring Data, and The High Risks To The Growth Outlook – Sentiments Also Echoed by Sentiments Bank of England Governor Andrew Bailey in His Interview With CNBC Ten Thursday.

These Were Some of the Main Messages from ECB Members This Week.

Christine Lagarde, European Central Bank President

On inflation and Monetary Policy:

“We’re Heading Towards Our (inflation) Target in The Course of 2025, So That Thhat We Are Nearing Complete. But We Have The Shocks Will Be A Dampen On Gdp. It’s A Negative Shock to Demand.”

“The Net impact On inflation Will Depend on the WHAT Countermeasures Are Eventually Taken by Europe. THEN We Have To Take Into Account The (German) Fiscal Push By The Defense Investments, by The infrastructure Fund. “

“We Have Seen Successive Movements, You Know, Announcement (of us tariffs), and then a Pauseand then some exemptions. So We Have To Be Very Attive … Either We Cut, Eeather We Pause, But Will Be Data Dependent to the Extreme. “

Watch CNBC's Full Interview With ECB President Lagarde

On Market Moves:

“When We Had Done Our Projects, We Anticipated That … The Dollar Would Depreciate, The Euro Would Depreciate. It’s Not What We We Saw. And There Have Been Some Counter-Intuitive Movements in Various Categories.”

“The German Market Has Obviously Been Shocked in A Positive Way By The Program Soon To Be Put in’s Place By The German Government, With A Commitment to Defense, With A Commitment to A Big Fund for Infrastructure Development.”

Klaas Knot, The Netherlands Bank President

It's 'Crystal Clear' That Tariffs Could Hit Growth in The Short Term, ECB's Knot Says

Robert Holzmann, Austrian National Bank Governor

We Have Not Seen This Much Uncertainy For Years, Austrian Central Bank Governor Says

Mārtiņš Kazaks, Bank of Latvia Governor

Global volneticability an Opportunity for Europe, Says Ecb's Kazāks



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