- The European Central Bank will remain committed to bringing inflation down to its 2% target, which means it is not done raising interest rates yet, according to the latest comments from ECB President Christine Lagarde.
The hawkish comments come after the ECB raised interest rates by another 25 basis points, pushing the main refinancing operations, marginal lending facility and the deposit facility rising to 3.75%, 4.00% and 3.25%, respectively. "Renewed financial market tensions, if persistent, would pose a downside risk to the outlook for growth as they could tighten broader credit conditions more strongly than expected and dampen confidence," she said in her prepared remarks.
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