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7/21, 3:06 PM (Source: TeleTrader)
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TPI made higher rates hike possible - Lagarde

European Central Bank President Christine Lagarde underscored on Thursday that the approval of the Transmission Protection Instrument (TPI), which was unanimously supported, allowed for the central bank to opt for a higher interest rates hike than was previously signaled.

"TPI is an instrument that will help us deliver on our mandate of price stability, bringing inflation in the medium term back to 2%," Lagarde stressed. She added that under the TPI "all members of the euro area can be eligible."

Lagarde stated that the Governing Council will determine, on the basis of the eligibility indicators "that will signal or not unwarranted disorderly market dynamics, whether or not a country" should activate the TPI.

Baha Breaking News (BBN) / AY