Euro On The Rise After Lagarde's Statemens

Euro On The Rise After Lagarde's Statemens Euro on the rise after Lagarde's statemens. ECB President Christine Lagarde's comments failed to meet the market expectation. Speaking after the ECB (European Central Bank) meeting held today, ECB President Christine Lagarde stated that they are watching the appreciation of the euro. Underlining that they are not happy with the rise in the euro since the meeting in July, Lagarde said that the appreciation of euro puts downward pressure on inflation. Stating that the euro will of course put pressure on the regional data as a result of the appreciation, Lagarde announced that they do not set a exchange rate target and will continue to observe. However, Lagarde's rhetoric was not very effective in the verbal direction that the markets were eagerly awaiting.   Forecasts Revised The new estimates of the ECB, which went through some revisions in its predictions, are as follows;  - While the 0.3 percent inflation targeted for 2020 is kept constant; It was increased from 0.8 percent to 1.0 percent for 2021. For 2022, 1.3 percent was preserved.  - The estimated decrease for GDPR 2020 was reduced from 8.7 percent to 8 percent.  While the growth expectation for -2021 was reduced from 5.2 percent to 5 percent; For 2022, it was reduced from 3.3 percent to 3.2 percent. In addition to these revisions, Lagarde stated that the impact of pandemic asset purchases was felt; She emphasized that there has been an improvement in the data since July and they do not see the possibility of deflationary pressure in September. As a result of these developments, while the euro rose to 1.19 against the dollar; It broke a new record against TL with 8,8790.