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Euro zone facing slower growth, higher inflation: ECB’s Lagarde -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Christine Lagarde, President of European Central Bank addresses a press conference after the meeting of the Governing Council on Monetary in Frankfurt (Germany), March 10, 2022. Daniel Roland/Pool via REUTERS

FRANKFURT, (Reuters) – Europe faces slower growth and higher inflation as war in Ukraine drains confidence and pushes up energy prices. This was the statement by Christine Lagarde, President of European Central Bank.

In a speech she made in Nicosia, “We will confront, in the near term, higher inflation, and slower growth.” “The war will last longer, and so the economic cost of the war will increase. We also have a greater chance to end up in worse situations.”

Lagarde stated that household are becoming increasingly pessimistic, cutting back growth and business investment will likely take a blow.

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