Description
Added on the 30/09/2013 15:10:55 - Copyright : Euronews EN
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 says interest rates will stay at their current record low levels until it sees inflation "durably" reaching the bank's new target of two percent. IMAGES
European Central Bank President Christine Lagarde says the institution will freeze borrowing costs again on Thursday but warns that inflation could pick up again in the near term, in an apparent pushback against market hopes of early rate cuts in 2024. It is the second time in a row the central bank has held rates, following a run of historic hikes to tame runaway price rises. 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
Eurozone inflation is likely to stay higher for longer than expected but is still set to come down later this year, European Central Bank chief Christine Lagarde says. SOUNDBITE
Euro zone inflation rose very slightly in November, but is still barely above zero. As David Pollard reports, it's certainly unlikely to stop the European Central Bank from easing monetary policy further on Thursday.