European Central Bank President Christine Lagarde said the central bank is determined to bring inflation back to the 2 percent target and reaffirmed that policymakers stand ready to provide liquidity support when needed in the backdrop of the recent financial market turmoil triggered by the banking sector crisis.
"That should not be doubted, the determination remains intact," Lagarde said in a press conference following the policy decision announcement.
The ECB raised interest rates by 50 basis points earlier on Thursday, in line with the guidance in February. However, the bank did not provide any forward guidance on interest rates.
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by Jyotsna V
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