Special Envoy to Sintra (Portugal)
Rising corporate profits contributed two-thirds of inflation in Europe in 2022, according to Christine Lagarde, president of the European Central Bank (ECB). This first phase of price increases seems to be fading. But, as a result, employees are seeking to recover lost purchasing power and are demanding a catch-up on their payrolls. The ECB anticipates wage increases of 14% by the end of 2025, which could fuel a second inflationary phase. This is his obsession.
Inflation remains "too high, for too long" continues to hammer Christine Lagarde. To try to control this monster more difficult to tame than expected, the ECB will continue, "whatever happens", the increase of its key rates, after having already achieved an unprecedented monetary tightening. Hear: even if it means going through a recession or a rise in unemployment if necessary.
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That was the unambiguous message emanating...
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