(Dec. 30, 2022 11:13 PM PST) Eurozone wages are growing more quickly than expected, says ECB President Christine Lagarde. The ECB has raised interest rates by 2.5 percentage points since July in a bid to address high inflation and has promised further policy tightening at future meetings as longer-term price growth expectations have risen above its 2% target. Lagarde says the bank must “take the necessary measures” to lower inflation, currently at almost 10%, to its target of 2%.
