Lagarde: ECB Learned from 2022 Inflation Spiral

Christine Lagarde, President of the European Central Bank (ECB), stated the ECB has learned from the 2022 inflation crisis triggered by the war in Ukraine and rising energy prices. The ongoing disruption to the Strait of Hormuz, a vital global oil and gas transit route, is exacerbating energy costs and raising concerns about a potential new inflationary spiral. The ECB is preparing to respond to these challenges, having misjudged the initial price increases in 2022.

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