- We are meeting-by-meeting and data dependent
- Says she was surprised by resilience of economy
- Economy is more-balanced than what it was
- There has not been tariff retaliation by Europe
- We have both upside and downside risks to inflation
- My hope for US-China trade is certainty
- Chinese exports could be directed to Europe and that will have consequences for growth
- The movement of Chinese goods to Europe has increased but not as much as feared
The euro hasn't moved on her comments so far and remains up 7 pips on the day to 1.1575. The market only sees a small chance of a further ECB rate cut.
