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- ECB's President Lagarde: rates have probably reached peak, EU not in recession
ECB's President Lagarde: rates have probably reached peak, EU not in recession
European Central Bank (ECB) President Christine Lagarde hit the wires on Thursday in an attempt to soothe markets and reaffirm that the ECB is likely done with rate hikes, a nearly forgone conclusion for markets at this point.
Key highlights
- President Lagarde: believes rates have reached peak.
- Euro Area is not in an official recession.
- Fighting inflation often means less growth.
- European salaries are outpacing inflation.
- Lagarde expects Euro Zone inflation at 1.9% by 2025.
- Despite progress, doesn't mean inflation decline will be smooth.
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