Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to lower the benchmark interest rate by 25 basis points at the October policy meeting and responds to questions from the press.

Key takeaways

"Incoming data suggest that activity is weaker than expected."

"Investment is expanding only slowly."

"Households consumed less than expected."

"Recent surveys point to gradual recovery in household spending."

"Labour market is resilient."

"Further moderation in demand for labour."

"Surveys suggest slowing employment growth."

"Economy expected to strengthen over time."