ECB ‘cannot declare victory yet’ over inflation – Lagarde
President stresses rates will need to be higher for longer to defeat persistent inflation
The European Central Bank faces more persistent inflation, so “we cannot waver, and we cannot declare victory yet”, said ECB president Christine Lagarde today (June 27) at the central bank’s annual conference in Sintra.
After well over a year with inflation clearly over the 2% target, and despite the progress recorded in the last eight months, the ECB needs to push rates higher and maintain them at the peak rate for longer, warned Lagarde.
“Our job is not done,” the president stressed.
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