Middle East conflict will prolong inflation shock, Lagarde says
ECB chief warns AI is also driving long-term funding costs for governments
The president of the European Central Bank has argued that the inflationary effects of the energy shock are likely to last longer than expected.
In an interview with newspaper Ouest France on September 12, Christine Lagarde said the ECB’s decision to hike rates on September 10 reflected concerns over the duration of the energy shock, as the conflict in the Middle East shows no signs of abating. She directly attributed the shock to the hostilities and the destruction of refining capacity
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