Central Banks
Lagarde Says ECB Rates to Be Lifted for ‘Several Meetings’
- ECB president tells EU lawmakers data will steer decisions
- Euro-area fiscal policy isn’t sufficiently targeted, tailored
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The European Central Bank will continue increasing borrowing costs, even with economic activity expected to “slow substantially,” according to President Christine Lagarde.
“We expect to raise interest rates further over the next several meetings to dampen demand and guard against the risk of a persistent upward shift in inflation expectations,” Lagarde told European Union lawmakers Monday in Brussels.