ECB’s Lagarde Says This Month’s Key Rate Hike Was Based on Forecasts, Not a Pre-Emptive Move

European Central Bank President Christine Lagarde said on Monday that the ECB’s decision to raise key interest rates this month was based on its forecasts rather than a pre-emptive step to manage the risk of inflation getting out of control, according to 36Kr. Lagarde said the decision reflected what the ECB was seeing at the time, and that the bank’s confidence in making the move amid high uncertainty was supported by years of investment in data, indicators and forecasting.