The European Central Bank (ECB) anticipated that there will be a rise in inflation, which will be specified in figures on March 10, and more uncertainty in the old continent as a result of the rise in energy prices due to the Russian invasion of Ukraine.
Although the president of the ECB, Christine Lagardeconsidered “premature” to evaluate the results of the economic impact during the meeting of finance ministers of the European Union in Paris, assured that there will be no lack of liquidity and that payment systems will be guaranteed.
Regarding the latter, he noted that the prices of gas they are now six times higher than those of a year ago and those of oil, 44% higher. The ECB It will present a revision of its inflation forecasts on March 10.
Lagarde recalled that the institution she presides over has a double mandate, “price stability and financial stability” that will be the guide of the evaluations made of the new situation and of the monetary policy actions, when asked about possible interest rate hikes this year.
“The ECB is ready to take any necessary measure, within the framework of its responsibilities, to guarantee price stability and financial stability in the euro zone,” Lagarde assured after a meeting of European finance ministers in Paris.
Along these lines, the former managing director of the International Monetary Fund (IMF) explained that it is “difficult” to measure the economic impact of the conflict today, “since the situation evolves from hour to hour”, although she advanced consequences on energy prices .
Eurozone inflation closed the month of January registering a record 5.1%, driven by increases in energy prices. The European Commission forecasts that in 2022 it will be 3.5%.
With information from AFP and EFE.
Source: Larepublica
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