The ECB has slashed growth forecasts, hiking interest rates even as it predicts inflation will climb further Europe is facing lower-than-expected economic growth as inflation continues to climb, European Central Bank chief Christine Lagarde revealed on Monday, explaining that the ECB had raised interest rates by 75 basis points in an attempt to control soaring prices. Speaking before the European Parliament’s Committee on Economic and Monetary Affairs on Monday, Lagarde admitted that “inflation remains far too high and is likely to stay above our target for an extended period.” The ECB chief warned that the “econ
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