Lagarde speech: We will continue to hike interest rates in next several meetings

European Central Bank President Christine Lagarde reiterated on Wednesday that they will continue to raise rates in the next several meetings, as reported by Reuters.

Additional takeaways

"I'm not challenging that we made some projection errors."

"I gave a little forward guidance by saying that after 125 bp hikes that there will be more hikes in the next several meetings."

"We are not at the neutral rate yet."

Market reaction

EUR/USD showed no immediate reaction to these comments and was last seen losing 0.35% on the day at 0.9558.