European Central Bank President Christine Lagarde expected a slowdown in inflation in Europe, while insisting on returning prices to the target she set.
This came in Lagarde's statements to the Greek newspaper Kathimerini, published today, Saturday, on the European Central Bank's website, in which she said: We are determined to reduce inflation to 2%. According to our expectations, we will reach this level by 2025, according to the Eastern Economy.
Lagarde said she was not concerned about the political implications of the central bank's efforts, which have been criticized by some European governments concerned that higher interest rates will hamper growth.
She added: Our mission is to ensure price stability, and this is the best contribution we can make to social peace and society, especially for the most vulnerable member states.
The European Central Bank halted an unprecedented campaign to raise interest rates, which it had undertaken in an effort to regain control of inflation.
While officials indicated that borrowing costs will remain high, to ensure that consumer price increases return to 2%, although the weakness of the euro zone economy raises questions about when to cut rates.
Lagarde pointed out that the main performance indicators of the economic and financial situation in Greece showed improvement at all levels.
