11/27/2023, 3:49 PM (Source: TeleTrader)
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Lagarde: Price stability remains ECB's primary objective

European Central Bank (ECB) President Christine Lagarde said on Monday that achieving price stability remains the bank's primary objective that "prevails over any other."

Responding to questions before the European Parliament's Committee on Economic and Monetary Affairs, Lagarde stressed that addressing climate change is a "tangential obligation" the bank has but stressed that "European governments are primarily responsible for addressing" that issue.

The ECB head also stated that it aims to achieve price stability and bring inflation down to its 2% target in a "sustainable and durable way" but acknowledged that the way towards that target has been a "burden for our citizens." Still she warned that not getting inflation down to 2% would result in a "much worse situation, inflationary rates would be even higher, out of control in fact."

Baha Breaking News (BBN) / NP