European Central Bank President Lagarde spoke in a German media interview Friday:
"We will raise interest rates for as long as it takes to bring inflation back to our target"
Her remarks come after the ECB rate hike last week, the first rate rise from the Bank in 11 years. The Bank is expected to raise rates further at upcoming meetings to combat rising inflation. Inflation hit 8.6% in the euro zone last month. The ECB is going to have to eye recession risks given the energy crisis in Europe.
