European Central Bank (ECB) President Christine Lagarde said on Tuesday that the likelihood of a recession has increased, APA reports citing Teletrader.
Lagarde stressed that inflation is "too high" across the Eurozone and warned that the longer it stays high, the bigger the risk.
The ECB chief also stressed that the bank hasn't "reached the destination on rates yet" and that its terminal rate must ensure inflation returns to the 2% target.