Lagarde opening statement: The risks to economic growth remain tilted to the downside

<ul><li>Inflation decline was broad based</li><li>Inflation to increase in December due to base effects but will decline slowly afterwards</li><li>All measures of underlying inflation declined in October</li><li>Underlying measures of inflation rose due to wage growth and falling productivity</li><li>Most measures of longer-term inflation expectations currently stand at around</li><li>The risks to economic growth remain tilted to the downside</li><li>The prospects are weak for construction and manufacturing</li><li>Services to soften</li><li>We are determined to make sure inflation returns to our 2% inflation target in the medium term</li></ul><p>The euro has perked up during this press conference but some of that is broad US dollar weakening.</p>

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