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High inflation, Ukraine war ‘clouding’ eurozone outlook: ECB chief

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.

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Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.

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