2023-07-30 16:00:08
“Our objective is to bring down inflation and as an imperative mandate price stability in the medium term,” says Christine Lagarde. SEBASTIEN SORIANO/Le Figaro
EXCLUSIVE INTERVIEW – For the President of the European Central Bank, even if the rise in prices calms down, interest rates will have to remain high for a long time.
After raising its key rate to 3.75% on Thursday, its ninth consecutive increase, the ECB could take a “break” in September. Its president, Christine Lagarde, details her strategy at Figaro.
LE FIGARO. – In one year, you have raised interest rates to a record high. Are we coming to the end of this cycle?
Christine LAGARDE. – We have covered a lot of ground and made a lot of progress in this fight against inflation. We are getting closer to the goal. We will only know if we have reached this goal – a medium-term inflation target of 2% – thanks to economic and financial data. And we will act on our analysis of that data. I hear here and there that the last rate hike will take place in September. There may be another increase in policy rates, or perhaps a pause. A break, whatever the date, in September or later, would not necessarily be definitive. Inflation must be permanently brought back to its target. We…
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