(30 Jun 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Sintra – 30 June 2025
1. European Central Bank President Christine Lagarde and officials arriving for briefing
2. Wide of sign
3. SOUNDBITE (English) Christine Lagarde, European Central Bank President:
"Two things. One is I think we are more and more, all of us central banks around the world, but certainly at the ECB we are more and more using artificial intelligence in multiple dimensions and for multiple applications. And I think the principle that we try to apply for that is being extremely cautious and attentive in how it is used and how it is validated and what data it relies upon. So not sort of blindly following artificial intelligence-produced models or results from them but checking, verifying."
4. Close of European Central Bank logo
5. SOUNDBITE (English) Christine Lagarde, European Central Bank President:
"The inclusion of climate in 2021 was a bit of a breakthrough because not everyone was convinced. This particular time there was a lot less debate as to the relevance of climate change as a component in our assessment of the economic situation, of the risk of inflation, of the price impact and of the risk management that we are accountable to the European citizens when it comes to the validity of our monetary portfolio but also of all the portfolios for non-monetary purposes as well."
6. Wide of press conference
7. SOUNDBITE (English) Christine Lagarde, European Central Bank President:
"On that note I would strongly recommend that we all drink as much water as possible in those few days because that’s a recommendation of our medical centre."
8. Wide of attendees walking along a blue carpet at the ECB conference
9. Wide of ECB Forum on Central Banking sign
10. Various of venue and exteriors
STORYLINE:
The European Central Bank on Monday convened in Portugal for a three-day forum on Central Banking.
Ahead of the annual forum, President Christine Lagarde and Philip R.Lane outlined some aspects of the conclusion of the ECB’s strategy assessment.
During a briefing ahead of the Central Banking Forum, Lagarde addressed the growing use of artificial intelligence.
"All of us central banks around the wolrd are using more and more artificial intelligence, but the principle is to be cautious and not blindly following blindly Artificial intelligence."
Lagarde also stressed the relevance of climate and its impact on the economy, the risk of inflation and its impact on prices.
Portugal is currently undergoing a heatwave with temperatures rising up to 44 degrees C (111.2 F) in some areas of the country.
The yearly European Central Bank Forum hosts central bank governors, experts and officials from all over the world to discuss the current state of affairs on economic policy and central banking.
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