President of the European Central Bank, Christine Lagarde, asserted on Friday that the drivers of high inflation are going to fade over the medium term, however noting that the rates will further rise through the remainder of 2021, APA-Economics reports citing foreign media.
Lagarde continued to advocate for the ECB not to tighten its monetary policy prematurely, saying the Eurozone has to reach the 2% price target on a durable basis first.
Concluding her remarks, Lagarde stressed the inflation outlook would become better compared to the times before the coronavirus pandemic once the demand recovers.
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