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ECB raises inflation outlook as pandemic lockdowns end

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The European Central Bank (ECB) has raised its inflation forecasts for the coming years, amid supply bottlenecks across the 19-member eurozone as the region reopens after pandemic lockdowns. ECB chief Christine Lagarde said the bank’s projections show the inflation rate coming in at 2.2 per cent this year – slightly higher than the bank’s annual 2-per-cent target and up from the 1.9 per cent it forecast in June. Lagarde said the current gain in inflation was the result of temporary factors, such as higher energy prices, with inflation slipping to 1.7 per cent next year. This compared with its …

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