off-the-wire

ECB to keep raising rates given price pressures, Lagarde says

Kitco Media
By Reuters
Published:
Updated:
Reuters

FRANKFURT, Feb 15 (Reuters) - Euro zone inflation pressures remain high and the European Central Bank will keep raising interest to dampen underlying price dynamics, ECB President Christine Lagarde said on Wednesday, repeating the bank's most recent policy guidance.

"Overall, price pressures remain strong and underlying inflation is still high," she told the European Parliament in Strasbourg. "Even though most measures of longer-term inflation expectations currently stand at around 2%, these measures warrant continued monitoring."

She added that, while confidence indicators are rising and energy prices have fallen, economic activity will remain weak in the near term.

Reporting by Balazs Koranyi Editing by Francesco Canepa
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