IMFC STATEMENT : ECB 17 OCTOBER

What happened: ECB President Christine Lagarde said in an IMFC statement that the Governing Council raised key ECB interest rates by 25 basis points in September, after a same-size increase in June. Key numbers: September headline inflation 3.8%, core inflation 2.5%. 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 noted financing conditions have tightened, with long-term interest rates rising notably since the last meeting. Coverage: 3 outlets in 24h

ECB President Christine Lagarde said in an IMFC statement that the Governing Council raised key ECB interest rates by 25 basis points in September, after a same-size increase in June.

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 noted financing conditions have tightened, with long-term interest rates rising notably since the last meeting.