Lagarde suggests ramp-up in ECB rates not close to being over

The overall pace of consumer-price increases in the eurozone still stayed above 10% in November, almost all economists predict.

Christine Lagarde, president of the European Central Bank, said there is too much uncertainty to assume that inflation has peaked.

European Central Bank president Christine Lagarde said she would be surprised if eurozone inflation had peaked, suggesting the recent ramp-up in interest rates could continue.

“I would like to see inflation having peaked in October, but I’m afraid that I would not go as far as that,” she told MEPs in Brussels.