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Global EconomyIMPORTANT

ECB President Lagarde (Q&A) says ECB is concerned about the potential direct and indirect effects; reiterates that ECB does not see emergent second-round effects yet

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ECB remains concerned about energy shocks but holds rates at 2.25% as second-round effects and unanchored expectations are not yet evident, leaving the door open for a September hike.

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Reiterates longer-term inflation expectations are at target

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