11/3/2022, 9:23 AM (Source: TeleTrader)
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Lagarde: Recession won't tame inflation

European Central Bank (ECB) President Christine Lagarde stated on Thursday, during the Latvijas Banka Economic Conference, that "recession wouldn't be sufficient to tame inflation."

"We need to continue to deliver on our mandate and to find that interest rate that will help us reach the target we defined as the 2% metric, medium-term," Lagarde stressed.

She underlined that the central bank remains "single-mindedly focused [on delivering] price stability." Lagarde further noted that ECB needs "to be attentive to potential spillovers [from the Fed policy]," as financial markets are interdependent.

Baha Breaking News (BBN) / AY