Lagarde speech: We have not finished normalization

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

"We have not finished normalization."

"We are turning back to forward guidance to avoid uncertainty."

"We'll have further rate increases."

"We'll look at inflation outlook."

"We'll be attentive to the transmission of the policy."

"Reduction of APP portfolio was discussed at retreat."

"Did not discuss substantive APP issues today."

"Would pursue APP discussion, to decide key principles in December."