Euro zone inflation could tick up in the coming months but European Central Bank interest rates held at their current level for long enough could still get price growth back to the 2% target, ECB President Christine Lagarde said today.
The ECB snapped a streak of 10 straight rate hikes last month and investors now expect the bank's next move to be a cut, perhaps as soon as in April.
"There will be a resurgence of probably higher numbers going forwards and we should be expecting that," Lagarde told a Financial Times event. The ECB, which left its deposit rate unchanged at 4% last month, sees inflation back at target only in late 2025 with consumer price growth broadly stagnating at around 3% for most of 2024."We are at a level where we believe that, if kept long enough, - and this long enough is not trivial - will take us to the 2% medium-term target," Lagarde said.
ECB Inflation Interest Rates Target Rate Hikes Cut Euro Zone
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kenny names squad for final Euro 2024 qualifier and New Zealand friendlyThe two matches could be the final games in charge for Kenny as Ireland play for pride after a dire qualifying campaign
Read more »
Irish mortgage rates 6th highest in euro areaIrish mortgage interest rates increased in September, new figures from the Central Bank show.
Read more »
Sabina Higgins, Wife of Irish President, Undergoes Successful Breast Cancer TreatmentMrs. Higgins, in her 80s, revealed she 'underwent a successful procedure' on Wednesday
Read more »
James Maddison Withdrawn from England Squad for Euro 2024 QualifiersJames Maddison was named in Gareth Southgate's squad for the games with Malta and North Macedonia before getting injured in the Tottenham v Chelsea game on Monday
Read more »
Sabina Higgins undergoing treatment for breast cancerPresident’s wife urged women to be aware of the symptoms of breast cancer
Read more »