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What she said specifically on scenarios:

• We are inbetween the baseline and the adverse. We have baseline -> adverse -> severe.
• We are somewhere, I think, between the baseline and the adverse scenario.
• Asked how quickly that can change: "It changes everyday. We have to take a medium-term view [for policymaking]."

Seeing the Euribor strip rise on these subsequent headlines, ERZ6 now at 97.325 vs 97.300 before Lagarde starting speaking: 

"*LAGARDE: ECB DOESN'T HAVE TIGHTENING BIAS" bbg
*LAGARDE: WOULD NEED DATA TO ACT, WOULDN'T HESITATE"

• Europe was well-positioned, we were going to increase our [growth] projection. Then the war started, resulting in increased fragmentation - one of the largest energy shocks we've seen on a global basis.
• There is damage caused, there is value lost [...] Europe is not the epicenter of that, Asia is the first victim of the situation in terms of economic losses.
• The direct impact on GDP [...] all institutions will revisit forecasts, we are revisiting our growth and inflation forecasts and have revised inflation and growth forecasts (higher, and lower) already. Evolution from here depends on duration of the crisis.
• Adds that the economy is between the ECB's baseline and adverse scenario.

LeParisien:"Since the start of the war in Iran on February 28, fuel prices at the pump have skyrocketed . A liter of diesel has increased by more than 65 cents, reaching an average of €2.31 last week, an increase of 8 cents compared to the previous week. Meanwhile, the price of unleaded 95 (SP 95) has remained stable at €1.99 week-on-week."

 "Aware of the growing social unrest, the government is, according to our information, working very seriously on implementing an exceptional price-capping mechanism. A draft decree—which we have been able to consult—has been prepared by the Council of State and is being urgently submitted to the National Consumer Council (CNC) for its opinion."