Christine Lagarde: “This was a decision based on what we saw in front of us.”

I have a sense of duty and I believe that when there’s a bit of a storm, the captain remains on deck. So the captain of the European Central Bank is on deck.

We believe inflation will be longer lasting than we had anticipated.

The basics have not changed. But what it takes to apply them has changed.

We have not debated at all any kind of future path. Markets do what they have to do and we do what we have to do – which is to provide price stability.