European Central Bank President Christine Lagarde said in an interview published Sunday that she is confident that the bank will achieve its goal of returning inflation to 2 percent, and is relatively confident about the status of Europe’s gas reserves.
Last month, the European Central Bank raised its key interest rate to a record level of four percent.
She added in the interview published by the French newspaper La Tribune Dimanche on Sunday, “The main interest rate in the European Central Bank has reached levels that, if it remains that way for a sufficient period, will contribute significantly to the timely return of inflation to the target rate.”
The European Central Bank’s website indicated that the interview took place on October 2.
Lagarde added that the fact that inflation is “now falling strongly” is among several reasons that make her not pessimistic about the economic outlook in the near term.
She pointed out that other reasons for this are the ongoing economic reforms in Europe and because the position of gas reserves in Europe is better than before.
“Structural reforms are underway,” Lagarde said. “Just a year ago, who would have thought that we would succeed in replacing more than 90 percent of our gas reserves by September 2023?”
She continued, saying, “This allows us to look towards next winter with more confidence, if not calm.”
2023-10-08 12:05:36
#Lagarde #European #Central #Bank #achieve #goal #returning #inflation
