ECB's Lagarde: Further rate hikes 'still in the pipeline'

Inflation too high

European Central Bank president Christine Lagarde has warned the central bank will introduce further interest rate hikes to battle inflation.

Speaking at the ‘Deutscher Sparkassentag 2023' event in Hanover yesterday (1 June), she said inflation is still too high and "is set to remain so for too long", meaning "considerable tightening is still in the pipeline". ECB: Weaknesses in shadow banking increase spillover risk to European banking sector She reiterated the ECB is determined to bring inflation down to its medium-term target of 2% in a "timely manner", which is why the central bank has had to increase rates at its "fastest pace ever". Lagarde noted the increases are already feeding "forcefully" into bank lending cond...