ECB interest rates

ECB chief Christine Lagarde notes concerns but warns of further hikes to tackle soaring eurozone inflation.

Maturing bonds would continue to be repurchased by the ECB, she said. It is expected to raise them again at its next committee meeting in two weeks’ time. The ECB foresees inflation in the eurozone falling to 2.3% by the end of 2024. The US Federal Reserve raised its rates by three-quarters of a point for the third consecutive time last month to a range of 3% to 3.25%. [that rocketing interest rates would hit growth](https://www.theguardian.com/business/2022/sep/10/central-bankers-talk-tough-but-they-cant-fight-inflation-like-this), Lagarde said she was aware of the potential harm to poorer households from a recession and was also anxious about the effect of inflation on those most vulnerable to high prices. [The European Central Bank](https://www.theguardian.com/business/european-central-bank) has increased the cost of borrowing to tackle inflation, which soared across the eurozone last month to 9.9%.