2023-11-05 11:10:45
Inflation in the euro zone will fall back to the 2% target in 2025, declared the President of the European Central Bank (ECB), Christine Lagarde, in an interview with the Greek newspaper Kathimerini. According to the Frenchwoman, the ECB is determined to achieve this objective.
To counter high inflation, the ECB raised interest rates to their highest level ever. Last month, it introduced a pause on interest rate increases for the first time. According to her, interest rates are now at 4% and should ultimately bring inflation down to 2%.
The European financial institution has assured that it will maintain these high interest rates over a long period. His boss claims not to worry regarding the political consequences of this measure. Southern European countries have effectively criticized this decision which, according to them, will contribute to economic weakening. “Our mandate is to guarantee price stability and this is the best contribution we can make to social and societal peace, especially for the most vulnerable.“within the population, justified Christine Lagarde.
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