2023-11-10 22:02:20
European Central Bank President Christine Lagarde warned yesterday that the decline in inflation in the euro zone to 2.9% last October is encouraging, but it cannot be “considered guaranteed.”
The official considered that the inflation rate was “okay,” following it had exceeded 10% at its peak in the same period last year.
She added in a video interview with the Financial Times, “But it should not be considered a guaranteed matter and that it will continue for a long time.”
The significant decline in the inflation rate in recent months is due in large part to the decline in energy prices, which recorded a sharp rise in October 2022.
Lagarde stressed that “we will have to closely monitor energy prices in the future.” The European Central Bank kept interest rates unchanged in October, following 10 consecutive increases that brought the key rate to a historic high of 4%, but the bank warned that inflationary risks, exacerbated by events in the Middle East, remain high.
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