“I know high inflation. It affects everyone, especially the poor. I promise that we will do our best to reduce inflation. And we will achieve it,” Lagarde says in her message.
“We have raised interest rates and will continue to raise them steadily. (prices) until we reach levels that ensure a timely return to our 2% medium-term target,” says Lagarde.
Inflation in eurozone countries Reached 10% annual rate after record 10.5% in October. The ECB has increased interest rates several times in recent months and is now at 2.5%, the highest level since 2008.
“in 2022 We realized we underestimated it, it was something valuable. Peace, cheap energy, price stability. terrible Russia’s war against Ukraine He and his people are causing human suffering on a level we don’t expect to see again on European soil,” he said.
“War increases energy prices”Expressing that he is “very happy with the expansion of the euro family”, implying Croatia’s transition to a single currency as of January 1, Lagarde adds, “It also causes an increase in inflation across Europe.”
“In 2023 we will find the determination to defend what is so valuable: peace, freedom and democracy‘, Lagarde concludes his message.