Euro turns negative after Lagarde warns low inflation unlikely to return

Published by
Reuters UK

By Joice Alves and Hannah Lang LONDON/WASHINGTON (Reuters) – The euro gave back earlier gains on Wednesday after European Central Bank President Christine Lagarde said the era of ultra low inflation that preceded the pandemic is unlikely to return. Speaking at a panel at the ECB Forum in Sintra, Portugal, alongside U.S. Federal Reserve Chairman Jerome Powell and Bank of England Governor Andrew Bailey, Lagarde added that central banks need to adjust to significantly higher price growth expectations. The euro was last down 0.41% to $1.0475. It had dropped to as low as $1.0486 earlier in the day …

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