Christine Lagarde’s first ECB press conference – business live

Rolling coverage of the latest economic and financial news, as Christine Lagarde chairs her first monetary policy meeting since becoming European Central Bank chief

Earlier:

1.57pm GMT

Q: Is it sensible to launch a strategic review at a time when the ECB isn’t meeting its inflation targets?

There is never a good time, Lagarde hits back — if you wait until all the targets are hit then people will say ‘why bother?’

1.54pm GMT

Onto questions.

Q: Your new inflation forecasts show inflation will only be 1.6% in 2022 – is that acceptable?

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