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Sign InECB President Christine Lagarde delivered a keynote speech in Berlin on April 20, 2026, marking the 75th anniversary of the Association of German Banks. The address focused significantly on the impact of energy shocks and the current state of global energy markets. This follows her recent participation in the IMF meetings in Washington, shifting the narrative toward the specific structural challenges posed by energy volatility. Lagarde emphasized that energy market dynamics remain a critical factor in shaping Eurozone monetary policy and inflation outlooks. She also highlighted the essential role of the German banking sector in financing the economic transition. These remarks underscore the ECB's ongoing vigilance regarding external supply-side risks that could influence price stability targets.