1/21, 1:51 PM (Source: TeleTrader)
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Geopolitical factors, weather affect inflation - ECB's Lagarde

Looking at underlying inflation factors is crucial in securing usable data, European Central Bank (ECB) President Christine Lagarde stressed on Friday, adding that energy prices, but also geopolitical factors, and even weather, impact the price hikes.

Speaking at the World Economic Forum event, Lagarde admitted that most of the relevant organizations underestimated both inflation and the pace at which economies will recover.

Lagarde stuck with projections she previously made, forecasting that supply bottlenecks will stabilize in a year's time, and underlining that inflation is under control in the euro area. She stressed that the ECB will remain open to changing its monetary policy if necessary, and predicted that the inflation rate in the euro area will not reach that of the Unite States.

Baha Breaking News (BBN) / BU