Lagarde speech: Next rate hike not necessarily 75 bps

Christine Lagarde, President of the European Central Bank (ECB), is delivering her remarks on the policy outlook and responding to questions following the bank's decision to hike key rates by 75 basis points following the September policy meeting.

Key quotes

"Policy decision was unanimous."

"We had different views around the table."

"Inflation is spreading across a whole range of products, including in services."

"Today wasn't an isolated decision."

"Next rate hike will not necessarily be 75 bps, that's not the norm."

"Given inflation, determined action had to be taken."

"Where we are is not the neutral rate, it will take further hikes to neutral."