ECB chief: Interest rates to stay high for as long as necessary
ECB chief: Interest rates to stay high for as long as necessary
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00:00 Interest rates will remain high to combat inflation despite acknowledging the impact
00:05 on homeowners with increased mortgage payments, according to the head of the European Central
00:10 Bank, Christine Lagarde.
00:12 The upward pressure on prices remains strong in the eurozone, with spending on holidays,
00:19 travel and rising wages contributing to slower declines in price levels.
00:24 The ECB aims to ensure inflation returns to its 2% target in a timely manner.
00:30 The bank recently raised its benchmark deposit rate to 4%.
00:35 Lagarde highlighted the burden of inflation on lower-income households and stressed the
00:40 importance of quickly returning inflation to stable levels.