ECB President Lagarde (Q&A) says, on whether statement is hawkish or dovish, monpol is in good shape because it is agile, and prepared to do what is necessary to reach goals in a symmetric way

• Is not trying to characterise the 'hawkishness' or 'dovishness'
• Reiterates ECB is data-dependent, will decide meeting-by-meeting, is not path determined, does not give forward guidance

Lagarde's comments suggest a balanced approach to monetary policy, emphasizing the ECB's agility without committing to a hawkish or dovish stance. This indicates a flexible response to incoming data, which could lead to volatility in EUR and affect market expectations around future rate decisions. The lack of forward guidance reinforces a cautious outlook, leaving room for varying interpretations as new economic data emerges.