ECB, Lagarde: “Bleak economic outlook, high inflation for a long time to come”

MILAN – “The outlook is getting bleaker. Inflation remains too high and is likely to stay above our target for an extended period of time.” The president of the ECB said so Christine Lagarde speaking to the Econ commission in the European Parliament referring in particular to the consequences of the conflict in Europe. “The unjustified war of aggression on Ukraine continues to cast a shadow over Europe. The economic consequences have continued to unfold,” she added.

In her speech, Lagarde also dwelt on the consequences that the weakening of the euro is having on the European economy. “The depreciation of the euro has helped to amplify inflationary pressures”, said Lagarde, recalling, with regard to the trend of prices, that “inflation remains too high and is likely to remain above our target”. 2% “for a long time”.

After the United States also Europe with the interest rate curve upside down

by Vittoria Puledda

“New rate hikes in the coming months”

With respect to the next monetary policy moves, Lagarde reiterated that the ECB will still intervene on the interest rate front. “As things stand, we expect to raise interest rates further in upcoming meetings to dampen demand and prevent the risk of a persistent upward shift in inflation expectations,” she said. “We will regularly evaluate our policy path in light of incoming information and evolving inflation outlooks. Our future policy rate decisions will continue to depend on data and will follow a meeting-by-meeting approach,” she added. Speaking of the rising cost of energy Lagarde, he said: “I cannot stop Putin’s horrible and unjustified actions, I wish I could, but I can’t. I can’t lower the price of gas, I wish I could, but I can’t. Perhaps a good reform of electricity pricing would help more. “

Source link

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

Check Also

A scholarship week can be worth a whole year of waiting

The financial markets are the realm of surprises and if someone dares to have convictions, …

Leave a Reply

Your email address will not be published. Required fields are marked *