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MNI BRIEF(CORRECTED): ECB To Maintain Financing Conditions

(MNI) London

(Makes clear Lagarde was referring to interest rates next year)

The European Central Bank stands ready to use its Pandemic Emergency Purchase Programme to safeguard favourable financing conditions, ECB President Christine Lagarde said in a speech on Wednesday, adding that an undue tightening would represent an unwarranted headwind for the recovery at a time when purchasing power is already being squeezed by higher energy and fuel bills.

It is very unlikely that the ECB will raise rates next year, despite the current inflation surge, Lagarde said, noting that the outlook for inflation over the medium term remains subdued.

MNI London Bureau | +44 203-865-3829 | jason.webb@marketnews.com
MNI London Bureau | +44 203-865-3829 | jason.webb@marketnews.com

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