ECB needs to keep interest rates 'sustainably high' to combat inflation - Lagarde

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The European Central Bank needs to keep interest rates high to curb inflation in the medium term, its president Christine Lagarde said on Friday, signalling more monetary tightening. The ECB slowed the pace of rate hikes this month with a 25-basis-point rise, but Lagarde indicated the cycle was not over. "We still have to have sustainably high interest rates, so it's a time when we have to really buckle up and look at this target that we have and deliver on it," Lagarde told Spanish state television TVE.