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9/9/2022, 12:25 PM (Source: TeleTrader)
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ECB to ensure prices do not become entrenched - Lagarde

European Central Bank (ECB) President Christine Lagarde stated on Friday that the ECB will fight the cost of living crisis "with the same energy and the same determination" as the COVID-19 pandemic. She added that the central bank's objective remains the same and is to deliver price and financial stability.

Lagarde noted that the ECB on its own "cannot do much" to reduce wholesale gas prices and household electricity bills, and that the crisis requires that all EU institutions and all policy areas work together. She vowed that the ECB will, on its end, act decisively to make sure prices do not become entrenched, that inflation does not become de-anchored, and to move away from expansionary policy.

Baha Breaking News (BBN) / DJ