Lagarde speech: There should be no undue constraints on ECB policy response

The ECB will play its full part within its mandate, Christine Lagarde, President of the ECB, said in her prepared remarks delivered at an event organized by the European University Institue on Friday.

Additional takeaways

"Bank lending in March was the largest on record."

"Government financing need may exceed 10% of GDP this year."

"There should be no undue constraints on ECB policy response."

"Common European fiscal response is so desirable. It needs to be swift, sizeable and symmetrical."

"We must ensure that there are no undue constraints on our policy responses."

Market reaction

These comments had little to no impact on market sentiment. As of writing, the Euro Stoxx 50 Index was up 0.6% on the day at 2,898 points.