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Inflation is too high and will stay on course as rates rise

by SuperiorInvest

President of the European Central Bank (ECB). Christine Lagarde is speaking at a panel discussion titled “Finding Europe’s New Growth” at the World Economic Forum (WEF) in Davos this Thursday.

Key quotes

Economic news is much more positive.

In the Eurozone, we can only see a small contraction.

The labor market in Europe has never been as lively as it is now.

2023 won’t be as great, but better than expected.

Inflation is too high.

The ECB is determined to reduce it to 2% in time.

Will stay on course with rate hikes.

Inflation expectations are not anchored.

We must prevent this from happening.

Market reaction

In the immediate reaction to Lagarde’s comments, EUR/USD is trading comfortably around 1.0820, up 0.28% on the day.

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