Lagarde: Growth is losing momentum

• Exports are also week
• Firms are holding back investment
• Surveys point to fewer jobs being created in the current quarter
• The economy should strengthen over time, though slower than previously assumed
• Provided trade tensions do not escalate, exports should support the recovery
• It is crucial to swiftly follow up with concrete proposals to enhance competitiveness
• Underlying inflation is overall developing in line with a sustained return to target
• Most measure of longer-term inflation expectations stand at around 2%
• The risks to economic growth remain to the downside, cites possible trade tensions
• We will follow a meeting-by-meeting and data-dependent approach

There are no surprises here so far and the euro continue to trade near 1.0500.

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