Anti-inflation message from ECB President Lagarde

After the Eurozone consumer price index (CPI), announced on March 19, increased 6.9 percent in March compared to the same month of the previous year, in line with expectations, the president of the European Central Bank , Christine Lagarde, made statements about the subject.

“We have very strong inflation compared to our target, and it has been for a while,” Lagarde said, speaking at an event in Paris on Thursday, referring to inflation targets of 2 percent.

Lagarde stressed that there is still work to be done to overcome the excessively rapid increase in consumer prices. “There is still a little way to go on the road,” Lagarde said, adding that the length of the road will depend on a number of factors, particularly the impact of financial problems on lending.

NET IN INFLATION TARGETS LAGARDE

While Lagarde’s words are in line with other European Central Bank (ECB) officials, who said that by raising the policy rate by 75 basis points each, the toughest tightening in its history has come to an end, it is he expects the ECB to raise it by 25 basis points or 50 basis points at its next meeting.

Asked if the ECB’s 2 percent inflation target was being reviewed, Lagarde denied such a possibility in the near future.

Lagarda said: “It would be useless and ineffective to have this discussion now. “First we will reach the goal, we will make sure we achieve it in a sustainable way, then we can analyze any problems,” he said.