The President of the European Central Bank (ECB), Christine Lagarde, once again drew attention to the high level of inflation and reaffirmed the need for interest rates to rise further. We will take the necessary steps to curb inflation, Lagarde told the European Parliament in Strasbourg on Wednesday. She underscored earlier statements that another rate hike of 0.50 percentage point is due in March.

After the interest rate decision in March, the ECB will assess the further path of monetary policy, said the central bank president. The further procedure is discussed from interest rate decision to interest rate decision. The aim is to bring inflation back to the two percent target for the medium term.

Although inflation in the euro zone had recently weakened, the inflation rate in January at 8.5 percent was still well above the target mark. At the beginning of the month, the ECB raised key interest rates by a further 0.50 points in the fight against high inflation.