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“We are fully committed to fighting inflation and are determined to achieve its timely return to our medium-term target of 2%”.
Thus the president of the ECB, Christine Lagardein a hearing at the Economic Committee of the European Parliament.
“Our rate hikes are feeding strongly into corporate and household financing conditions, as can be seen from rising lending rates and declining loan volumes. At the same time, the full effects of our monetary policy measures begin to materialize,” he added.