European Central Bank Governor pointed out more rate hikes

European Central Bank Governor pointed out more rate hikes

Interest Rates may continue the upward trend even after July and September rate hikes.

Governor Christine Lagarde said after the European Central Bank’s decision on interest rate hikes for July and September, a slow but measured path of further interest rate hikes will be suitable.

She also said incoming data will decide interest rate decisions, especially inflation numbers.

She also discussed the ongoing Russia Ukraine war that affects the Eurozone economy and brings uncertainty. She emphasized that conditions are still there for the economies to grow and may get recover in the medium term.

She also showed her efforts by saying that banks will work to bring back the inflation to the target of 2% and higher inflation has become a challenge for all the countries.

She also added, that on the basis of our updated evaluation, we have made a plan to take more measures to normalize the monetary policy.