Christine Lagarde: “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…”

Forecasts showing inflation remaining above the ECB’s 2 per cent target without further policy action...

I think fair use would consist of an operational loan that would be using cash balances as collaterals.

First of all, I would discount a little bit of the positioning at the moment because this is typical of negotiating tactics on both sides.

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