Lagarde speech: Seeing increased risk of correction of real estate prices

European Central Bank (ECB) President Christine Lagarde told the European Parliament on Monday that risks to financial stability have perceptibly increased since the beginning of this year, as reported by Reuters.

Lagarde further added that they see an increased risk of a correction of real estate prices. Commenting on the labor market conditions, Lagarde noted that it was likely for wage increases to accelerate.

Market reaction

These comments don't seem to be having a noticeable impact on the euro's performance against its major rivals. As of writing, the EUR/USD pair was up 0.25% on the day at 1.0525.