European Central Bank President Christine Lagarde said on Thursday that the current rise in euro area inflation is likely to be temporary and underlying price pressures are expected to pick up gradually. Yet, inflation over the medium term is likely to remain well below the target, she added.
On July 8, the ECB had adopted a symmetric 2 percent inflation target that will allow a temporary overshoot in inflation, following a monetary policy review that was launched last year.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.