# ECB’s Lagarde: Remains open to adjusting monetary policy if inflation deviates

> ECB President Christine Lagarde said the central bank will keep adjusting policy as needed to keep inflation at its 2% target. She also said internal barriers in European services and goods markets act like tariffs of about 100% and 65%. EUR/USD traded about 0.17% higher near 1.1550 that day.

- Date: 2025-11-21 · published 2025-11-21T12:00:00.000Z
- Category: macro · region Eurozone · magnitude low
- Page: https://feedsoft.ai/events/22151-ecb-s-lagarde-remains-open-to-adjusting-monetary-policy-if-inflation-deviates
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Lagarde's comments signal no immediate change in ECB policy, so they have little direct effect on feed commodity prices. The main channel is through EUR/USD and the dollar's broader effect on export competitiveness.

## Read by commodity

- EURUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-01-25 | [ECB Press Conference: Lagarde explains decision to keep rates steady, speaks on policy outlook](https://feedsoft.ai/events/32347-ecb-press-conference-lagarde-explains-decision-to-keep-rates-steady-speaks-on.md) | -0.4% | -0.8% |
| EURUSD | 2020-06-05 | [ECB coronavirus stimulus expected to continue as inflation remains low](https://feedsoft.ai/events/52844-ecb-coronavirus-stimulus-expected-to-continue-as-inflation-remains-low.md) | +0.5% | -0.8% |
| EURUSD | 2017-07-20 | [Monetary policy decisions](https://feedsoft.ai/events/70184-monetary-policy-decisions.md) | +1.0% | +1.6% |
| EURUSD | 2017-04-27 | [ECB sticks with  policy despite inflation shortfall – The Irish Times](https://feedsoft.ai/events/71694-ecb-sticks-with-policy-despite-inflation-shortfall-the-irish-times.md) | +0.4% | +2.8% |
| EURUSD | 2019-11-21 | [Account of the monetary policy meeting](https://feedsoft.ai/events/56279-account-of-the-monetary-policy-meeting.md) | -0.6% | +0.6% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/ecbs-lagarde-remains-open-to-adjusting-monetary-policy-if-inflation-deviates-202511210847

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.