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Speech by Christine Lagarde, President of the ECB, at the Hearing of the Committee on Economic and Monetary Affairs of the European Parliament
Brussels, 27 November 2023
The world has rapidly entered a period marked by compounding challenges.
A new geopolitical landscape is emerging, fuelled by mounting tensions that are fragmenting the global economy. This has direct economic consequences as it is fostering uncertainty and economic volatility.
In parallel to this geopolitical turmoil, the climate crisis is accelerating, resulting in more frequent and unprecedented natural disasters. These extreme weather events trigger supply shocks that reverberate through the global economy, further exacerbating the existing challenges.
To navigate this shifting environment, policymakers must be open-minded. At the same time, it is critical that central banks provide an anchor of stability by delivering on their price stability mandates.
In my remarks today, I would like to briefly discuss our…