ECB expects high inflation in Eurozone in 2023

Next year, inflation in the euro area will also be high, and by 2024 it should return to about 2%, Francois Villeroy de Galhau, a member of the ECB Governing Council, said in an interview with BFM radio, Report informs.

On September 8, the ECB raised its key rate by 75 basis points for the first time in its history and signaled further tightening of policy, prioritizing the fight against inflation amid the threat of a recession and limiting gas consumption this winter.