Lagarde: Inflation stays high, economy remains resilient

The President of the European Central Bank, Christine Lagarde, confirmed that the eurozone economy proved its resilience during the second quarter despite the repercussions of the energy shock caused by the war with Iran, as it experienced broad-based growth across countries and sectors. The central bank raised its main interest rate for the second time this year by 25 basis points to 2.50%, aiming to contain rising inflation, which remains affected by the conflict in the Middle East and stays above the target level for an extended period. Projections indicate that inflation will stay above the target, with upside risks from inflationary pressures and downside risks to economic growth, amid ongoing economic uncertainty.

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