The president of the European Central Bank (ECB), Christine Lagarde, affirmed today in London that “actions speak louder than words”, avoiding giving indications about the next steps of the institution in terms of interest rates.
“Actions speak louder than words,” Lagarde defended today, speaking in London at a seminar organized by the European Center for Economics and Finance.
Christine Lagarde recalled that the ECB raised interest rates by 425 basis points in 12 months, a record time.
“We will, in due time, get inflation back to the 2% target,” he said.
On September 14, the ECB will have to decide whether to interrupt the cycle of interest rate hikes.
At the last meeting, in July, Lagarde stated that rates could remain at the same level or rise further, depending on macroeconomic data.
The annual inflation rate in the euro area remained stable in August compared to July, at 5.3%, but below the equivalent 9.1%, according to a preliminary estimate published last week by Eurostat.
The food, alcohol and tobacco component is expected to register the highest year-on-year inflation rate in August (9.8%, compared to 10.8% in July), followed by services (5.5%, compared to 5 .6% in July), the non-energy industrial goods component (slowed from 5.0% to 4.8%) and energy registered negative inflation for the fourth consecutive month: -3.3%, compared to to -6.1% in July.
Source: TSF
