Dec 15 (Reuters) – Following is the text of European Central Bank President Christine Lagarde’s statement after the bank’s policy meeting on Thursday:
Link to statement on ECB website: https://www.ecb.europa.eu/press/pressconf/2022/html/ecb.is221215~197ac630ae.en.html
The Governing Council today decided to raise the three key ECB interest rates by 50 basis points and, based on the substantial upward revision to the inflation outlook, we expect to raise them further. In particular, we judge that interest rates will still have to rise significantly at a steady pace to reach levels that are sufficiently restrictive to ensure a timely return of inflation to our two per cent medium-term target. Keeping interest rates at restrictive levels will over time reduce inflation by dampening demand and will also guard against the risk of a persistent upward shift in inflation expectations. Our future policy rate decisions will continue to be…
