The eurozone economy is proving “more resilient” than expected in the face of headwinds from the energy crisis and the war in Ukraine, European Central Bank President Christine Lagarde said at a news conference on Thursday.
Despite “weak global activity and high geopolitical uncertainty”, the euro area economy “is proving to be more resilient than expected and is expected to recover in the coming quarters”, thanks to “the necks of bottle” and “the gas supply has become more secure. she said.
“We still have a long way to go”
The European Central Bank, however, still has “some way to go” in its interest rate hikes, Christine Lagarde has warned. “We still have a long way to go, we know it’s not over,” she said, after repeatedly insisting on the ECB’s desire to “stay the course” on monetary tightening.
Source: BFM TV
