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Added on the 12/05/2022 17:54:21 - Copyright : Euronews EN
European Central Bank president Christine Lagarde announces that ECB decided to raise its inflation forecasts, with consumer price growth now seen reaching 8.4 percent for 2022 before easing slightly to 6.3 percent next year. By 2024, inflation should average 3.4 percent before reaching 2.3 percent in 2025. SOUNDBITE
The EU warns the eurozone is expected to fall into recession this winter as soaring energy prices batter the wallets of consumers around the continent. "The outlook for next year has weakened significantly and we now forecast the EU economy to grow by only 0.3 percent in 2023 before a progressive recovery to 1.6 percent in 2024" the European Commissioner for Economy, Paolo Gentiloni says. SOUNDBITE
The European Central Bank President Christine Lagarde warns that growth in the eurozone risks slowing further, while inflation could continue to rise beyond recent record highs. SOUNDBITE
The European Central Bank President, Christine Lagarde, warns governments against adding to their public debt, as they look to ease the pressure on households and businesses from soaring energy costs. "Governments should pursue fiscal policies that show they are committed to gradually bringing down high public debt ratios," she says during a news conference, adding that policymakers should pick measures that are "temporary and targeted at the most vulnerable". SOUNDBITE
The European Central Bank unleashes another jumbo interest rate hike on the eurozone in an effort to combat record-high inflation, which has soared towards 10 per cent, and bring rising prices under control. The decision has been made despite concerns mounting over a darkening economic outlook. "With this third major policy rate increase in a row" says Christine Lagarde, ECB President, "we have made substantial progress in withdrawing monetary policy accommodation." SOUNDBITE
European Central Bank President, Christine Lagarde, announces the ECB is lifting its key rates of interest by 75 basis points, leaving them sitting in a range of between 0.75 and 1.5 percent. It came after the bank hiked rates by 50 basis points in July, its first increase in more than a decade, in order to tame record eurozone inflation. These levels "will ensure the timely return of inflation to our 2% medium term target" she says, during a press conference in Frankfurt. SOUNDBITE
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