Central Banks
Lagarde Says ECB Rates to Be as High as Needed for Inflation
- President Lagarde delivers speech at Fed’s Jackson Hole event
- ECB officials deciding whether to pause or continue rate hikes
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President Christine Lagarde said the European Central Bank will set borrowing costs as high as needed and leave them there for as long as it takes to bring inflation back to its goal.
Describing an “era of uncertainty,” Lagarde said it’s important that central banks provide an anchor for the economy and ensure price stability in line with their respective mandates.