Interest rates will stay high

By Associated Press

Sep 27, 2023 12:27 am

FRANKFURT: The head of the European Central Bank said on Monday that interest rates will stay high enough to restrict business activity for 'as long as necessary' to beat back inflation. Still, she sympathized 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.

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