Christine Lagarde: “I think we would do exactly the same thing as our colleague Jay Powell does.”

Forecasts showing inflation remaining above the ECB’s 2 per cent target without further policy action...

First of all, I would discount a little bit of the positioning at the moment because this is typical of negotiating tactics on both sides.

This was a decision based on what we saw in front of us.

We believe inflation will be longer lasting than we had anticipated.