eBusiness Weekly
European Central Bank President Christine Lagarde said there’s still some work to be done to defeat consumer-price gains that remain excessively rapid.
“We have inflation that’s too strong compared to our target, and has been for some time,” Lagarde said at an event Thursday in Paris.
Officials have delivered “a significant amount” as they try to bring it back to the 2% goal from more than three times that now, she said.
“There’s still a little way to go on the path,” Lagarde said. “The length of the path will depend on a number of factors, notably the impact on credit from the financial troubles we saw.” — Bloomberg
