English
Christine Lagarde: The banking sector is strong and resilient
European Central Bank President Christine Lagarde emphasized the strength and resilience of the banking sector in her speech following the bank's meeting, which raised interest rates by nearly 50 basis points.
The European Central Bank raised the interest rate by about 50 basis points to 3% levels, despite the current turmoil in the banking sector in Europe and America.
Lagarde said that the banking sector is now much better than it was in 2008, noting that in the event that there is a liquidity crisis, it will act quickly, but she does not see that at the present time.
Lagarde added: The economy will recover in the coming quarters...and the labor market is strong.
With regard to inflationary pressures, Lagarde indicated that they are still severe, stressing that inflation will remain high for a while.
And she continued: Most of the long-term expectations refer to levels of inflation at 2%, and this requires constant monitoring in light of the recent fluctuations.
