ECB President Christine Lagarde responds to Knot’s comments about the KRO-NCRV program that will be broadcast next Sunday. “Klaas Knot and I are on the same side,” says Lagarde. “Our goal is to reduce inflation to 2 percent in the medium term. We will devote all our resources to this and we have already started this process.”
below zero
The ECB last raised interest rates in July 2011. After that, interest rates only gradually fell below zero percent.
In April, the ECB did not change interest rates despite the sharp rise in inflation in the euro area. Raising interest rates has traditionally been the central banks’ main weapon in tackling rising inflation. Lagarde later signaled a first rate increase in the summer. The next ECB interest rate meetings will take place on 9 June and 21 July.
war in Ukraine
The European Central Bank in Frankfurt also said it will be cutting government bonds and other bond purchases this spring in an effort to curb high inflation. Depending on inflation developments, the ECB may end its asset purchase program entirely from July. Critics have long argued that the ECB should stop doing this, as it is actually fueling more inflation.
node allowed University visit moreover, they are not yet concerned about a major recession. He warns that the ongoing war in Ukraine and the resumption of the corona pandemic are “definitely having a negative impact”. “We will have to keep a close eye on this,” says the head of De Nederlandsche Bank.
Source: NOS
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