AMB/Lagarde: Interest rates need to be increased in a steady, rapid, substantial form

European Central Bank (ECB) Leader Christine Lagarde said that interest rates should be increased quickly in order to slow down inflation.

ECB Leader Christine Lagarde said in a statement, “Inflation is very high in Europe. We need to bring inflation down and we will achieve this goal. In order for the ECB interest rates to reach a limiting level, it is still necessary to increase significantly at a steady pace and to keep the interest rates at that level as long as necessary.” .

In his speech, the ECB Leader also used the words, “To put it another way, we will stay on course until the inflation rate returns to our target.”