Christine Lagarde: IMFC Statement

What happened: ECB President Christine Lagarde delivered an IMFC statement at the IMF Annual Meetings on 17 October 2026, covering the global and euro area outlook, inflation and monetary policy. Key numbers: September ECB staff projections see euro area growth of 0.9% in 2026, 1.4% in 2027 and 1.5% in Why it matters: Lagarde said the energy shock is too large to look through but a measured response remains appropriate, with risks tilted to the downside for growth and the upside for inflation. She cited no evidence at this stage of significant energy pass-through to other prices and wages.

ECB President Christine Lagarde delivered an IMFC statement at the IMF Annual Meetings on 17 October 2026, covering the global and euro area outlook, inflation and monetary policy.

Lagarde said the energy shock is too large to look through but a measured response remains appropriate, with risks tilted to the downside for growth and the upside for inflation. She cited no evidence at this stage of significant energy pass-through to other prices and wages.