Lagarde's Meeting-By-Meeting Rate Guidance Keeps Euro Bears Cautious

European Central Bank (ECB) President Christine Lagarde spoke on Friday, stating that interest rate decisions will be made meeting by meeting. This stance suggests a cautious approach to monetary policy.

Lagarde also expressed optimism about economic growth, saying 'growth is a bit more promising than we thought.' However, she reiterated that the ECB has not seen any signs of second-round inflation effects yet.

The Euro (EUR) has not reacted significantly to Lagarde's comments, with EUR/USD trading near 1.1485 as of writing. The Market reaction section notes that nothing in her remarks is new or unexpected, contributing to the lackluster response from markets.