European Central Bank President Christine Lagarde on Tuesday told CNBC that the ECB will moderate the restrictive monetary policy in the near term, if there is no development of additional shock. She noted that the disinflationary process is moving according to the ECB's expectations and the policymakers just need to build a bit more confidence in this disinflationary process. "If it moves according to our expectations if we don’t have a major shock in development, we are heading towards a moment where we have to moderate the restrictive monetary policy," Lagarde added.
The ECB's chief also said that the ECB will monitor oil prices very closely amid geopolitical tensions. “All commodity prices have an impact, and we have to be extremely attentive to those movements,” she noted.