By Marta Vilar – MADRID (Econostream) – European Central Bank President Christine Lagarde said on Thursday that the ECB was in a strong position to assess the economic consequences of the conflict in the Middle East.

In the Q&A session after delivering a speech at the Johns Hopkins University in Bologna, Italy, Lagarde said that the ECB would determine its response to the current situation “in view of all the data that we can harness, and that we can analyze, and that we can scrutinize with sufficient confidence.”

There was “no preset pace for our monetary policy”, she said.

Lagarde said the ECB was “in a good position to monitor very carefully and to try to understand what the consequences of the current shocks will be in the future.”

When facing new shocks and heightened uncertainty, it was more appropriate “to be in a good place than to be in a less good place,” she added.

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