FRANKFURT, Feb 16 ― European Central Bank (ECB) chief Christine Lagarde reiterated yesterday that the institution plans to raise its interest rates by a half percentage point...
FRANKFURT, Feb 16 ― European Central Bank chief Christine Lagarde reiterated yesterday that the institution plans to raise its interest rates by a half percentage point even as the eurozone's economic outlook improves.
“In view of the underlying inflation pressures we intend to raise interest rates by another 50 basis points at our next meeting in March,” Lagarde told lawmakers at the European Parliament. The ECB will publish updated economic forecasts at its March meeting, which will help it formulate the course for monetary policy.
The rates are approaching the point where analysts consider them restrictive, or high enough where they slow consumption and investment, which in turn reduces pressure on prices.
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