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ECB President Christine Lagarde said today that the nature of inflation in the eurozone is changing and it is unlikely that, in the near future, the central bank will be able to declare that the maximum policy rates have been reached.
In Sintra, at the opening of the Central Bank Forum (ECB), Christine Lagarde reaffirmed that inflation in the euro zone is too high and will continue to be so for too long, with the central bank’s commitment to achieving the inflation target of 2% remains.
“We have not yet seen the full impact of the cumulative interest rate hikes decided since last July – which amount to 400 basis points. But our work is not done yet,” she said.
The president of the ECB reaffirmed what was signaled at the last meeting of the Board of Governors this month: “Except if there is a substantial change in the inflation perspectives”, the central bank will continue “to increase rates in July”.
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