Interest rates will remain at ‘elevated’ levels for as long as necessary, warns Lagarde

ECB President ruled out any cuts to borrowing costs in the short-term

Christine Lagarde, President of the ECB, said interest rates will remain high for as long as necessary to tackle inflation

Christine Lagarde, the President of the European Central Bank, and a host of other senior monetary policymakers have hinted that borrowing costs in Europe will remain high until inflation slows further and ruled out any cut in interest rates in the short term.

Speaking in the European Parliament in Brussels on Monday, Lagarde reiterated her view that interest rates will remain elevated for as long as needed to tame consumer prices — even as the ...