AMB/Lagarde: Interest rates need to be increased steadily

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

ECB Leader Christine Lagarde said in her 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, they still need to be increased in a stable and significant way, and the interest rates must remain 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 goal.”