IMFC Statement – www.ecb.europa.eu

19 Apr, 2024

www.ecb.europa.eu

Statement by Christine Lagarde, President of the ECB, at the forty-ninth meeting of the International Monetary and Financial Committee

IMF Spring Meetings, 19 April 2024

Introduction

Since our last meeting in October, the global growth outlook has improved somewhat, reflecting revised growth prospects across both advanced and emerging market economies. The disinflationary process has continued amid falling energy prices, the normalisation of supply conditions and tight monetary policy. While the global economy has weathered the tightening of monetary policy well, growth prospects remain subpar by historical standards. Risks to the global outlook are broadly balanced for both economic activity and inflation, though rising geopolitical tensions pose an upside risk to inflation and a downside risk to growth.

The Governing Council in April kept the three key ECB interest rates unchanged at their September 2023 levels. It considers that these policy interest rates are at levels that are…

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