The fallout from Russia’s war in Ukraine and soaring inflation have darkened the eurozone’s economic outlook, European Central Bank chief Christine Lagarde said Thursday.
“Russia’s unjustified aggression towards Ukraine is an ongoing drag on growth. The impact of high inflation… and higher uncertainty are having a dampening effect on the economy,” Lagarde told reporters, adding that those factors were “significantly clouding the outlook for the second half of 2022.”
Eurozone inflation “continues to be undesirably high and is expected to remain above our target for some time,” she said.
