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Lagarde: Our Task Is To Reduce Inflation, Not Making Any Commitment To Cut

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Fixed Income NewsHomepageBulletMarketsEmerging Markets NewsForeign Exchange News

Q: Have repeated that journey continues and you are not pausing. Many households are struggling with higher rates and have had to cut down for spending. What can you say to them, and what can you tell them about the future?

  • A: Aware of households that have contracted loans with floating/variable rates from Finland/Portugal/Baltics/Spain; some families are hurting.
  • Unfortunately that is something we cannot alleviate because our task is to reduce inflation and the tool of choice that works is the interest rate.
  • Best thing to do is bring inflation down quickly. Not making any commitment to cut at this point.
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Q: Have repeated that journey continues and you are not pausing. Many households are struggling with higher rates and have had to cut down for spending. What can you say to them, and what can you tell them about the future?

  • A: Aware of households that have contracted loans with floating/variable rates from Finland/Portugal/Baltics/Spain; some families are hurting.
  • Unfortunately that is something we cannot alleviate because our task is to reduce inflation and the tool of choice that works is the interest rate.
  • Best thing to do is bring inflation down quickly. Not making any commitment to cut at this point.