ECB President Lagarde: Inflation has broadened, is undesirably high and is a major challenge

European Central Bank (ECB) President Christine Lagarde said on Thursday in the opening remarks of her post-meeting press conference that inflationary pressures have broadened and remain undesirably high, which is a major challenge, reported Reuters. Near-term economic activity is to be dampened by high energy costs, she added, noting that the war in Ukraine and recent lockdowns in China have made supply chain snags worse.