Lagarde: The European Central Bank will set intere

Ai Huicha, August 27, European Central Bank President Christine Lagarde said that the European Central Bank will set the cost of borrowing as high as needed and keep it at this level for as long as necessary to bring inflation back to its normal level. Target. Lagarde described these as "uncertain times" and it was important for the central bank to keep price expectations stable. "In the current environment, this means for the ECB to set interest rates tight enough for the time necessary to achieve a timely return of inflation to our 2% medium-term target." The ECB and the eurozone are at a critical moment. Central bankers are deciding whether to raise rates again in an unprecedented wave of rate hikes amid data showing the economy has narrowly avoided a recession for now but could still slip into it.