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Lagarde Says Needs To Provide Clarity & Commitment On ECB's Objective

ECB
  • Comments from Lagarde via Reuters:
    • We are seeing profound changes in the labour market and the nature of work
    • Energy transition, climate change is triggering profound transformations in global energy markets
    • We are likely to experience more shocks emanating from the supply side itself
    • If we face both higher investment needs and greater supply constraints, we are likely to see stronger price pressures
    • We also need to be open to the possibility that some of these changes could be longer-lasting
    • We need to provide clarity on our objective, and on unwavering commitment to deliver on it
    • Need to set rates at sufficiently restrictive levels for as long as necessary to achieve a timely return of inflation to our 2% medium-term target
  • The full speech can be found here.

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