6/20, 4:41 PM (Source: TeleTrader)
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Bringing down inflation to 2% by medium-term - Lagarde

President of the European Central Bank, Christine Lagarde stressed that bringing inflation down to 2% in the medium-term remains the central bank's primary objective, speaking before the Committee on Economic and Monetary Affairs of the European Parliament on Monday.

Lagarde underscored that maintaining price stability will help those most affected by the soaring prices of energy and food in the member states as "inflation is undesirably high," adding that it must be brought down to its target at the end of the medium-term with the proposed instruments.

According to the latest projections, inflation in the euro area has increased to 8.1%, with energy prices jumping by 39.2% compared to the previous year.

Baha Breaking News (BBN) / AB