The head of the European Central Bank says interest rates will stay high long enough to restrict business activity for as long as necessary VERBATIM: Christine Lagarde says the high interest rates are designed to beat back inflation because upward pressure on prices “remains strong.” Lagarde says “strong spending on holidays and travel” and increasing […]
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Head of European Central Bank says interest rates will stay high
The head of the European Central Bank says interest rates will stay high long enough to restrict business activity for as long as necessary
VERBATIM:
Christine Lagarde says the high interest rates are designed to beat back inflation because upward pressure on prices “remains strong.” Lagarde says “strong spending on holidays and travel” and increasing wages were slowing the decline in price levels even as the economy in the 20 countries that use the euro currency stays sluggish. The E-C-B recently raised its benchmark deposit rate to an all-time high of 4% after a record pace of increases.