ECB's Lagarde: Inflation profile looks like a hump

European Central Bank (ECB) President Christine Lagarde came out on Saturday to speak about the economic and inflation outlook but she said more or less the same thing she communicated during her appearance at the Reuters event on Friday.

Key quotes

We're at the high level of the hump.

A hump shape eventually declines and we project inflation to decline in 2022.

Do not know how fast omicron will propagate in the euro area.

Economic impact will depend on virus measures taken.

Another virus wave was included in ECB's adverse scenario, we're still in range.