ECB President Lagarde says inflation and policy are in a good place; completing term is her baseline

• ECB will decide policy meeting-by-meeting and must remain agile.

Lagarde’s comments indicate a balanced view on inflation and policy, suggesting the ECB is content with current conditions while emphasizing the need for flexibility in future decisions. This could signal to the markets that the ECB is maintaining a cautious stance, potentially impacting interest rate expectations and the euro's trajectory in both the short and medium term.