ECB President Christine Lagarde said in Davos today, “Inflation by all accounts, whichever way you look at it, is way too high.”
“There is determination at the ECB to bring (inflation) back in a timely manner and we should stay the course until we have been in restrictive territory for long enough to bring it down,” Lagarde added.
“The job market in Europe has never been as vibrant as it is now. The unemployment number is at rock bottom compared with what we’ve had in the last 20 years. And the participation rate which matters as well, is also very, very high level and that is pretty much homogeneous throughout the euro area,” she said.
“The news has been much more positive over the past few weeks,” she said. “It will not be a brilliant year (in 2023), but a lot better than feared”.