© Reuters. Euro falls after Lagarde ruled out rate hike in 2022
Frankfurt (Germany), Nov 15 (.) .- The euro fell to around 1.14 dollars this Monday, after the president of the European Central Bank (ECB), Christine Lagarde, reiterated that it is “very unlikely” that The conditions are in place for a rise in interest rates in 2022, although it did not rule it out in 2023.
The euro was trading at around 16.00 GMT at $ 1.1423, compared to $ 1.1445 in the last hours of the European currency market trading the previous day.
The European Central Bank (ECB) set the benchmark exchange rate for the euro at $ 1.1444.
“If we were to take any tightening measure now, it would do much more harm than good. Faced with a peak in inflation, even hinting at a tightening in the short term would damage the economy and begin to take effect when inflation begins to decline,” repeated the statement several times. President of the ECB in a debate with the European Parliament’s Economic Affairs Committee.
Lagarde recalled that a rise in interest rates in 2022 is very unlikely, but said that he does not dare to say the same regarding 2023.
The single currency was exchanged in a fluctuation band between 1.1415 and 1.1464 dollars.
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