The European Central bank will raise its interest rates until inflation falls back to its 2 per cent target, the ECB’s President Christine Lagarde said in an interview with Germany’s Funke Mediengruppe published on Friday.
It was Lagarde’s strongest commitment to date to fighting inflation, which hit 8.6% in the euro zone last month, despite growing fears of a recession in the bloc as a result of Russia-Ukraine war, according to Reuters.
“We will raise interest rates for as long as it takes to bring inflation back to our target,” she told the German network of newspapers
Source: Jordan News Agency