The head of the European Central Bank said Monday that interest rates will stay high enough to restrict business activity for “as long as necessary” to beat back inflation. Still, she sympathised with homeowners who have seen their mortgage payments jump.

Christine Lagarde said rates would stay high because upward pressure on prices “remains strong” in the 20 countries that use the euro currency.

https://jamaica-gleaner.com/article/business/20230926/ecb-interest-rates-will-stay-high-long-necessary