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Trust ECB to stabilise inflation, Lagarde tells citizens -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The European Central Bank’s headquarters in Frankfurt (Germany) is pictured on December 8, 2016. REUTERS/Ralph Orlowski

FRANKFURT(Reuters) – Euro area citizens concerned about rising prices should trust the European Central Bank, Christine Lagarde of the ECB stated on Tuesday.

Lagarde explained that she understood that increasing prices were a major concern for people.

“But people have the ability to trust that our commitment is unwavering to price stability, which is essential for the firm anchoring and confidence in the currency.”

Speaking at an event to mark Joachim Nagel’s induction as Bundsbank’s president, she was Jens Weidmann, his predecessor, resigned before him after a decade in which he had been unsuccessfully opposed to the ECB’s easy money policies.

The inflation rate topped 5% in the last month. It was a record-breaking high for the currency alliance and over twice what the ECB’s 2% goal.

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