European Central Bank (ECB) President Christine Lagarde said in London on Monday that “actions speak louder than words,” and avoided giving any guidance on the institution’s next moves on interest rates.
“Actions speak louder than words,” defended Lagarde, speaking in London at a seminar organized by the European Economics & Financial Centre.
Christine Lagarde recalled that the ECB raised interest rates by 425 basis points in 12 months, a record time.
“We will succeed in bringing inflation back to the target of 2% in due course,” he assured.
On September 14, the ECB must decide whether it wants to break the cycle of interest rate hikes.
At the last meeting in July, Lagarde said interest rates could remain at the same level or rise further, depending on macroeconomic data.
The annual inflation rate in the eurozone remained stable in August compared to July, at 5.3%, but below the homologous 9.1%, according to a flash estimate published by Eurostat last week.
The food, alcohol and tobacco component is expected to record the highest annual inflation rate in August (9.8%, compared to 10.8% in July), followed by the services sector (5.5%, compared to 5. 6% in July). the non-energy industrial goods component (slowed down from 5.0% to 4.8%) and the energy component recorded negative inflation for the fourth month in a row: -3.3%, compared to -6.1% in July.
Source: DN
