Christine Lagarde

Policymakers cautioned that hopes for a quick cooling in inflation pressures next year may prove premature

Lagarde said that the "risk of a recession" has increased, but that a downturn on its own won't be sufficient to tame soaring prices

European Central Bank President Christine Lagarde warned on Friday that the bank may have to raise interest rates beyond merely withdrawing stimulus and into territory that could restrain growth as the bank fights to control record inflation in the 19 countries that use the euro. We expect to raise rates further, and withdrawing accommodation may not be enough," Lagarde said in a speech at a banking forum in Frankfurt, Germany. She said the bank intended to bring inflation down in a timely manner and that how far we need to go, and how fast, will be determined by the inflation outlook. The ECB has raised rates at the fastest pace in its history to combat inflation that hit 10.7 per cent in the eurozone in October, the highest since statistics started being kept in 1997 and far above the bank's goal of 2 per cent. Inflation has been fed by high natural gas prices caused by Russia's cutbacks in gas supply during the war in Ukraine and by bottlenecks in supplies of parts and raw ...

That outlook is getting murkier by the day because inflation is still accelerating and growth slowing sharply

Oil prices are up 10% in barely a week on supply constraint concerns with Brent crude holding above $117, pushing the Canadian dollar and the Australian dollar up 0.3% and 0.4% respectively

The ECB is widely expected to follow its global peers by raising interest rates in July to try to check soaring inflation though economists are divided on the magnitude of any rate hike.

With new inflation figures due out Friday, Lagarde said the bank is using the dual approach to be able to respond to economic uncertainty.

Oil prices are up 10% in barely a week on supply constraint concerns with Brent crude holding near $117 levels pushing Canadian and Australian dollar up 0.3% and 0.4% respectively versus the greenback

The bank is making a sharp turn from supporting the economy during the COVID-19 pandemic to squelching inflation that has hit record levels in the 19 countries that use the euro.

The European Central Bank confirms its intention to hike interest rates at its policy meeting next month and downgraded its growth forecasts

A decidedly hawkish pivot could help convince bears that policy makers are determined to tighten financial conditions despite the headwinds

World Economic Forum (WEF) 2022: ECB President Christine Lagarde said the Ukraine war has revealed how powerful Europe is collectively

Against a basket of its rivals, the dollar fell 0.3% to 101.79, its lowest level since April 26

Lagarde said she's skeptical of crypto's value, contrasting it with the ECB's digital euro -- a project that may come to fruition in the next four years

The ECB should end its stimulus bond-buying scheme "early in the third quarter", Lagarde said in a speech in Ljubljana

Against the greenback, the single currency climbed 0.4% to $1.1346, and within striking distance of Monday's high of $1.1369 as European stock futures rebounded on the news

The euro edged up on Wednesday but was off Friday's three-week high, as traders looked for clues as to when the European Central Bank will hike interest rates

The Australian dollar got a bit of a lift as continued gains in global stocks boosted the mood for risk taking

Oil and mining shares were among the biggest gainers on the pan-European STOXX 600, after FTSE-listed BP reported a $12.8 billion annual profit

Euro weakened for a second consecutive day on Tuesday after European Central Bank President Christine Lagarde said there is no need for big monetary policy tightening in the euro zone