Geldpolitik: Lagarde: „Inflation wird schlimmer, bevor sie besser wird“

EZB President Christine Lagarde has reassured eurozone residents that inflation rates will eventually decline despite being expected to worsen in the short term. Speaking to the ZDF news portal, Lagarde stated that in their current forecasts, inflation will rise further by the end of 2026 before improving but ultimately improving.

This is largely due to soaring oil prices caused by the Iran war, which has significantly increased consumer prices in the eurozone. In August, the inflation rate stood at 3.3%, above the European Central Bank's (ECB) inflation target of 2.0% for the medium term. In response, the central bank increased the deposit rate for savers and banks to 2.5% on Thursday.

Lagarde had already warned after the interest rate decision that inflation would likely remain significantly above the target for an extended period this year. For 2023, the ECB forecasts an inflation rate of 3.0%, as well as 2.5% and 2.1% for 2027 and 2028, respectively, all missing the 2.0% target. Lagarde also emphasized the importance of the digital euro, noting increasing online shopping in the Eurozone.

"We must ensure that the central bank's money is also digital, otherwise we will be left out of this game," she said. The euro will continue to exist in banknotes, hopefully beautifully, alongside the digital euro. The digital euro is intended to complement cash euro, but not replace it. The ECB aims to roll out the digital euro by 2029, competing with US-based digital payment providers like PayPal, Mastercard, and Visa.