2023-06-27 18:59:05
By: Laura | Keywords: ECB-inflation-interest rates
French.china.org.cn | Updated on 28-06-2023
The ECB “will continue to raise interest rates in July” while inflation in the euro zone remains “very high and is expected to remain so for a long time”, the President of the European Central Bank (ECB) said on Tuesday. , Christine Lagarde.
In a speech on the first day of the ECB’s annual forum in Sintra, Portugal, Ms Lagarde said: “The nature of the inflation challenge in the eurozone is changing.”
According to the President of the ECB, the “second phase” of the inflationary process “is strengthening”, indicating a recovery in wages.
“It is unlikely that in the near future the central bank will be able to say with confidence that the peak in rates has been reached. That is why our policy must be decided meeting after meeting and must remain dependent on the data,” she said.
“We have made significant progress, but faced with a more persistent inflation process, we cannot hesitate, or even claim victory,” added Ms. Lagarde.
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