ECB’s Lagarde Expects Inflation to Stay High, Stops Short of Committing to December Rate Hike
European Central Bank President Christine Lagarde said inflation would remain high in coming quarters, while second-round effects remained within the bank’s projections. She stopped short of committing to a December interest-rate increase, saying significant changes in available information would be needed to alter her expected policy direction. The ECB is monitoring wage agreements and companies’ wage expectations for signs of a shift.