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The Independent UK
The Independent UK
World
David McHugh

Europe's central bank head defends its recent rate hike to fight inflation

Inflation Euro Christine Lagarde the European Central Bank
Europe Economy - (Copyright 2023 The Associated Press. All rights reserved)

The head of the European Central Bank defended its June 11 rate hike as justified to ward off real inflationary pressures and said it wasn’t just a mere “insurance hike."

ECB head Christine Lagarde said Monday that without the quarter percentage-point increase, inflation could have lingered above the bank’s 2% target into 2028.

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