6/28, 10:14 AM (Source: TeleTrader)
more TeleTrader news

Lagarde: Inflation in the euro area is undesirably high

European Central Bank President Christine Lagarde asserted on Tuesday that inflation in the Euro area is "undesirably high."

During a speech at the ECB Forum on Central Banking 2022, the president said that the leading cause of inflation "is an extraordinary series of external shocks." Among these shocks, Lagarde mentioned the global supply chain disruptions and the military operation in Ukraine.

Besides, Lagarde reiterated that the institution expects to increase the key interest rates again in September, and "if the medium-term inflation outlook persists or deteriorates, a larger increment will be appropriate," she added.

Baha Breaking News (BBN) / JG