ECB's Lagarde: Inflation at end 2022 to remain above target, but lower than now

ECB President Christine Lagarde, during testimony before the EU Parliament, said that inflation at the end of 2022 will remain above the ECB's 2.0% target, though will be lower than current levels. In wake of Lagarde's more hawkish remarks after last week's ECB meeting where she expressed greater levels of concern about inflation, this comment does not come as a surprise, though does mark a shift from the ECB's previously held stance that inflation will fall back under 2.0% by the year's end.