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Lagarde Says Risks To Economic Outlook Are To Downside

ECB
  • Risks to econ outlook are to the downside: Russia-Ukraine war; energy and food costs could remain persistently high; possible global economic weakness.
  • Risks to inflation outlook primarily to the upside: existing pipeline pressures could push up retail energy and food prices; over M-T period through, pressures mainly from domestic factors, including inflation expectations, or higher-than-anticipated wage rises. By contrast, declining energy prices or weaker demand would weaken price pressures.

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