ECB must stop quick wage growth from fuelling inflation, Lagarde says ...Middle East

Euro zone wages are growing quicker than earlier thought and the European Central Bank must prevent this from adding to already high inflation, ECB President Christine Lagarde told a Croatian newspaper. The ECB has raised interest rates by a total of 2.5 percentage points since July in a bid to arrest a historic surge in inflation and has promised even more policy tightening over its next several meetings as longer term price growth expectations have started moving above its 2% target.

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