This article was last updated on May 19, 2023
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European Central Bank Continues to Tackle Eurozone Inflation
The European Central Bank (ECB) is determined to take the necessary actions to reduce inflation in the eurozone to 2%. Christine Lagarde, the ECB President, has pledged to do everything in the bank’s power to bring inflation down and stabilize prices in the eurozone.
Interest Rates Raised Seven Consecutive Times
The ECB has taken action to address rising inflation in the eurozone. Over the past year, key interest rates have been raised by a total of 3.75 percentage points. Further increases of 0.25 percentage points are expected in June and July, according to Reuters news agency.
Pressure Mounts for Further Action
The latest figures from the European statistics agency Eurostat show that inflation in the eurozone increased to 7% on an annual basis in April. This rise in prices has put even more pressure on the ECB to take additional action to bring inflation under control.
Central Bank Meeting Scheduled for June 15th
The next ECB central bank meeting is scheduled for June 15th in Frankfurt. The bank will continue to monitor inflation levels in the eurozone and take necessary actions to bring it down to the desired 2% level.
The ECB has already taken action to address inflation. However, with prices continuing to rise, further measures will be required to stabilize the economy.