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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