European Central Bank head Christine Lagarde said Monday that price pressures are “strong” and made clear that the bank will raise interest rates high enough to bring down inflation and keep them there “for as long as necessary.”
Lagarde's remarks reinforced her earlier statements indicating the ECB was not done raising rates even after inflation fell by almost a full percentage point in May, to 6.1%. The ECB has been hiking rates at the fastest pace in its history, launching its drive in July 2022 as inflation headed for record highs.
