European Central Bank president Christine Lagarde said on Friday that the ECB’s duty is to maintain price stability, defining this as around 2% inflation. She emphasised that the ECB is fully committed to its 2% inflation target and pledged that the central bank will do whatever it takes to make sure that inflation stays at the target level.
Lagarde acknowledged that there is a lot of uncertainty and unpredictability at the moment, but stressed that, on the price front, the ECB will be certain and stable, adding that the institution is in a good position now.
The ECB's boss also noted that the euro’s value will depend heavily on the strength of the eurozone’s economy and underscored the need to make the region's economy stronger. Lagarde also called for the EU to cut trade barriers further within Europe and to simplify regulation.