FILE - The President of European Central Bank, Christine Lagarde, delivers a speech at the European Parliament in Strasbourg, France, Wednesday, Feb. 15, 2023. “I think we have to be as persistent as inflation is persistent,” Lagarde said during the talk at the ECB’s annual policy conference in Sintra, Portugal. The central bankers said their economies have been more resilient than expected and they don't foresee a contraction. “I’ve always been interested that the market thinks that the peak will be quite short-lived in a world where we’re dealing with more persistent inflation,” Bailey said. “The simplistic recipe of raising interest rates does not seem the right path to follow,″ Premier told lawmakers.

Source: ABC News June 28, 2023 18:46 UTC