Inflation in the euro area is running at a record It’s high and hasn’t peaked yet, European Central Bank President Christine Lagarde said on Monday, pointing to more interest. rate Upcoming hikes.
consumer prices in Euro 19 countries region It rose by $10.6 in October, due to rising food and energy costs in getting up of Russia war in Ukraine.
“I would like To see inflation peaked in October but I’m afraid I won’t go any further,” Lagarde told European lawmakers in Brussels.
“I think there is a lot of uncertainty – in particular in one component which is pass-Across of Rising energy costs at the wholesale level to the retail level – assuming that inflation has indeed peaked. That would surprise me.”
The European Central Bank has moved to tame inflation with a series of rate Hiking, hiking key Interest rates are two percent points Since July.
Lagarde said the ECB was advancing “as quickly as possible pace ever” and that more Increases would be needed to bring about inflation back down to the ECB’s target of 2%.
“We still have way To go we are not done with “Inflation, so yes, we will continue to raise interest rates,” Lagarde said.
The Governing Council of the European Central Bank set To detect next a plus in Borrowing costs at its December 15 meeting, when policymakers will also be armed with new Forecasting for Inflation and the economy growth.
In the United States, where the Federal Reserve began raising interest rates earlier and more Strongly, policy makers have indicated that slower pace of rate increases cansoon be appropriate.”
