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Lagarde Says Inflation Way Too High, ECB to Stay the Course

  • Euro-zone economy may only see ‘small contraction,’ she says
  • Softer price gains raise questions over the interest-rate path
Bloomberg business news
Lagarde Says Inflation 'Way Too High,' ECB Staying Course
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European Central Bank President Christine Lagarde said inflation remains far too elevated, vowing that policymakers won’t let up in their efforts to return price growth to the target.

“Inflation by all accounts, whichever way you look at it, is way too high,” Lagarde told a panel on Thursday in Davos. “We shall stay the course until such time we have moved into restrictive territory for long enough so that we can return inflation to 2% in a timely manner.”