The head of the International Monetary Fund on Friday praised the European Central Bank's decision to raise interest rates for the eighth time in a row and its pledge to keep going as long as needed to bring down high inflation.
Managing Director Kristalina Georgieva said the IMF welcomed both the ECB's quarter-percentage point rate hike Thursday and President Christine Lagarde's vow that the ECB is “not thinking about pausing.” The bank is trying to lower inflation from 6.1% to its goal of 2%.
