Image: The IndependentEurope's central bank head defends its recent rate hike to fight inflation
• European Central Bank (ECB) President Christine Lagarde defended the bank's recent interest rate hike, asserting it is necessary to bring inflation down to the 2% target by next year. • To avoid over- or underreacting to volatility, the ECB is now utilizing a range of "milder and harsher" scenarios to forecast the impact of geopolitical events. • These measures come as the European economy faces significant headwinds from the U.S. and wild fluctuations in oil prices driven by conflict in Iran.
independent.co.uk
