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Lagarde Talks Down Likelihood of Higher Inflation Target

ECB
  • Lagarde responds to question on potential for a higher inflation target: "No way that any of us, I think, would change the gateposts more-than-halfway through that journey [on inflation]"
  • Powell says "we've slowed the pace of our moves, and it's been appropriate to do so as we get more information, more data"
  • Still sees greater risk of doing too little on inflation, rather than too much
  • Sees the longer inflation stays high, the more likely inflation becomes entrenched. As such "time not our friend on this issue".

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