12/15/2022, 3:10 PM (Source: TeleTrader)
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Lagarde expects 50 bps hikes for a period of time

President of the European Central Bank, Christine Lagarde, estimated on Thursday that the central bank will have to increase its key rates at a pace of 50 basis points "for a period of time."

Speaking to reporters following the ECB's policy decision announced earlier today, Lagarde reiterated that the rates will have to rise significantly in order to reach a sufficiently restrictive policy to lower inflation in the longer term. "We have more ground to cover," she stressed.

Markets expect the Eurozone inflation to have declined to 10% in November, marking the first drop after continuous growth since the start of this year. The euro area CPI data is scheduled for release tomorrow morning.

Baha Breaking News (BBN) / ND