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- ECB’s Lagarde On ‘New Challenges In A Changing World’: Inflation far too high in Europe
ECB’s Lagarde On ‘New Challenges In A Changing World’: Inflation far too high in Europe
ECB's Laragre says inflation is far too high and the euro is rallying on the back of the speech.
Key quotes
Iinflation in europe is far too high, e must bring inflation down.
ECB made it clear interest rates will still have to rise significantly at steady pace.
ECB to stay the course to ensure timely return to inflation target.
More to come...
EUR/USD update
EUR/USD has found support on the European Central Bank officials' comments this week so far as they are signalling additional jumbo interest rate rises in Europe. At the time of writing, EUR/USD is moving up on Lagard's comments and has rallied from a low of 1.0845 to a high of 1.0926 so far.
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