ECB President Lagarde says interest rate hike will not reduce energy prices

European Central Bank European Central Bank The European Central Bank (ECB) represents the central banking entity in the Eurozone that oversees monetary policy for the bloc. As a growing geographic and economic region, the eurozone now includes 19 countries, which rely on the euro as their national currency.The eurozone presently consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.In terms of monetary The European Central Bank (ECB) represents the central banking entity in the Eurozone that oversees monetary policy for the bloc. As a growing geographic and economic region, the eurozone now includes 19 countries, which rely on the euro as their national currency.The eurozone presently consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.In terms of monetary Read this Term President Christine Lagarde speaking on Sunday with US TV CBS pointed out the role of rising energy prices in inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term:

• "Inflation in Europe is very high at the moment. Fifty percent of that is related to energy prices"

and added:

• "Russia's war in Ukraine "has dramatically increased those prices,"

And then:

• "If I raise interest rates today, it is not going to bring the price of energy down."

More, this on ECB policy ahead:

• "We will be interrupting the purchases of assets in the course of the third quarter, high probability that we do so early in the third quarter,"
• "And then we will look at interest rates and how and by how much we hike them."

I'm sure the "well, actually" crowd will find something to nitpick in this lot. Lagarde's comments on upcoming policy shifts fits with signals being seen elesewhere.