Inflation & Prices

Lagarde Urges Common European Approach to Fighting Inflation

ECB ‘can and will act decisively’ to reach 2% target
Will make ‘all effort’ to avoid fueling prices, Donohoe says

Christine Lagarde on Sept. 8.
Photographer: Alex Kraus/Bloomberg

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By Jana Randow and William Horobin

September 9, 2022 at 11:11 AM UTC

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For the European Central Bank’s fight against record inflation to be successful, governments must ensure fiscal aid in response to the energy crisis doesn’t get in the way, according to President Christine Lagarde.

Lagarde urged finance ministers to target support as much as possible so as not to interfere with ECB monetary policy. The Governing Council delivered a historic three-quarter-point interest-rate increase on Thursday after updated projections showed inflation significantly above earlier expectations through 2024.