Anasayfa / Genel / ECB President Lagarde: We Are Determined To Do Everything To Reduce Inflation – Breaking News

ECB President Lagarde: We Are Determined To Do Everything To Reduce Inflation – Breaking News

Christine Lagarde, president of the European Central Bank (ECB), said she was determined to gam everything to reduce inflation.

Lagarde, speaking mainly echoing the political message of the European Central Bank (ECB) last week, told the Latvian daily Delphi: “Our job is to create price stability, we must use all the tools at our disposal to achieve it. Determined to gam whatever it takes to bring inflation to our 2 percent target, “he said.

The ECB has raised rates by 200 basis points in the last three meetings. Markets, on the other hand, are pricing in a series of rate hikes that will raise the deposit rate, which is currently 1.5 percent, to approach 3 percent next year.

“WE WILL MAKE OTHER INTEREST INCREASES IN THE FUTURE”

Lagarde, who did not give details on when the interest rate hikes will end, said: “Our target is clear, we haven’t reached it yet. We will make more rate hikes in the future.”

Inflation in the Eurozone rose to 10.7% in October and is expected to remain above the 2% target set by the ECB in 2024. In this case, businesses and households could lose confidence that the ECB will reduce inflation and their consumption behavior will change.

“The longer inflation stays high, the more likely it is to spread through the economy,” Lagarde said.

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