Inflation has been far more stubborn than central bank officials—or the general public—would have liked, not just in the U.S., but worldwide. The latest example of that fact came last week, when Eurozone inflation surprised economists, sinking less than forecast despite falling energy prices.
Christine Lagarde, president of the European Central Bank (ECB), said over the weekend that the latest data means the ECB will have to keep raising interest rates to ensure price stability, adding that a 50 basis point rate hike in March is “very likely.”
