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10/4, 5:25 PM (Source: TeleTrader)
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Lagarde: Inflation remains undesirably high

European Central Bank President Christine Lagarde (pictured) insisted on Tuesday that inflation in the bloc remains "undesirably high" while stressing that "it's hard" to say whether it has peaked.

At an open dialogue organized by the Central Bank of Cyprus, she added that what is essential is "behind inflation, what fuels it." In that sense, she mentioned that one of the causes had been the war in Ukraine provoked by Russia, making prices much higher by creating shortages and uncertainty.

The second cause, she continued, has been the supply bottlenecks, meaning strong demand next to "a supply that can't be fluid." In response to the latter, "we should stop stimulating demand gradually," Lagarde concluded.

Baha Breaking News (BBN) / JG