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MNI BRIEF: "Not Quite Mission Complete" On Inflation - Lagarde

ECB president speaks to European Parliament on rate outlook.

MNI (LONDON) - The European Central Bank is nearing its target on inflation, but "it’s not quite mission complete yet," ECB President Christine Lagarde said on Wednesday, adding that the Governing Council will make its policy decision next week in line with its data-dependent and meeting-by-meeting approach.

"Inflation is expected to temporarily increase in the fourth quarter of this year, as previous sharp falls in energy prices drop out of the annual rates, before declining to target in the course of next year,” Lagarde told the European Parliament's ECON committee. (See MNI SOURCES: ECB Closer To Dropping "Restrictive" Language )

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MNI (LONDON) - The European Central Bank is nearing its target on inflation, but "it’s not quite mission complete yet," ECB President Christine Lagarde said on Wednesday, adding that the Governing Council will make its policy decision next week in line with its data-dependent and meeting-by-meeting approach.

"Inflation is expected to temporarily increase in the fourth quarter of this year, as previous sharp falls in energy prices drop out of the annual rates, before declining to target in the course of next year,” Lagarde told the European Parliament's ECON committee. (See MNI SOURCES: ECB Closer To Dropping "Restrictive" Language )

Keep reading...Show less