Does Lagarde's press conference even matter after the statement?

<p>The euro is down despite a somewhat-surprising rate hike because the statement said:</p><blockquote>ECB considers that key rates have reached levels that, maintained for a
sufficiently long duration, will make a substantial contribution to the
timely return of inflation to the target</blockquote><p>That's a clear indication that rates have peaked and the only path forward from there is lower, albeit with the usual caveats. I don't see any way that Lagarde can be credibly hawkish after that.</p><p>Watch live here:</p>

This article was written by Adam Button at www.forexlive.com.