European Central Bank (ECB) President Christine Lagarde stated on Monday that the Eurozone is "not done with inflation" and that the institution she is leading still has "things to do" to fight it, confirming again further raises in interest rates in the near future.
Speaking before the European Parliament's Committee on Economic and Monetary Affairs (ECON), Lagarde said she could not answer how far the ECB will go with raising rates. Still, she said it will continue to do so until inflation is back on the target of 2%. She also expressed her hopes that Russia's military operation in Ukraine will end soon and that the prices of energy will drop as a result.
Commenting on whether 2% should remain the target given the circumstances, Lagarde responded that she believes it is not time to "change the yardstick by which you measure your performance."
