ECB, Lagarde: ‘We will take the necessary measures to keep inflation under control’

Frankfurt (Germany), 10 March (LaPresse) – ‘We will take the necessary measures to keep inflation under control.’ This was stated by ECB President Christine Lagarde, speaking to France TV. When asked whether the European Commission feared possible stagflation and whether this should be a cause for concern when we hear talk of ‘stagflation,’ Lagarde replied: ‘I don’t think we are in a situation of stagflation at all. Stagflation was a phenomenon of the 1970s: a period when inflation expectations were left out of control, leading to very high inflation.’ ‘Today, after the events of the last ten years, all central bankers around the world know very well that inflation cannot be allowed to run wild. Stagflation does not happen by chance: it happens when central bankers take the wrong measures. Believe me, we will take the necessary measures to keep inflation under control,’ Lagarde said.