ECB Must Keep Raising Rates Even If Recession Risks Rise, Lagarde Says

President of European Central Bank Christine Lagarde addresses a news conference following the meeting of the Governing Council's monetary in Frankfurt, Germany, on March 10, 2022. Daniel Roland/Pool via Reuters

FRANKFURT—The European Central Bank must keep raising interest rates to fight off inflation, even if the probability of a eurozone recession has increased, ECB President Christine Lagarde said in an interview published on Tuesday.

“Our mandate is price stability and we have to deliver on that using all the tools we have available,” Lagarde told Latvian news outlet Delfi, largely repeating last week’s policy message. “We are determined to do what is necessary to bring inflation back to our 2 percent target.”