ECB hopes to hit 2% inflation target in 2025, Lagarde says

Lagarde also highlighted the review of the central bank’s monetary policy strategy, the digital euro and the redesign of euro-area banknotes

President of European Central Bank Christine Lagarde. (AP Photo/Michael Probst, File)

The European Central Bank’s 2% inflation target is in sight, according to President Christine Lagarde.

“We have made significant progress in 2024 in bringing down inflation and hopefully 2025 is the year when we are on target as expected and as planned in our strategy,” she said in a video posted on X on Wednesday. “Of course we will continue our efforts to ensure that inflation stabilizes sustainably at that 2% medium-term target.”