President of the European Central Bank (ECB) Christine Lagarde stated on Thursday, 17 March, that a return to the inflation dynamics that dominated the decade before the Covid-19 pandemic is “unlikely”.
The new period—marked by a surge in energy prices exacerbated by the Russian invasion of Ukraine—is driving inflation to levels that have not been seen since the euro was created and is forcing the ECB to adjust its rates, after the US Fed.
Last Thursday, the monetary institute in...