Economics
ECB Surprises With Faster Stimulus Exit on Risk to Inflation
- Decision follows acceleration in inflation to 5.8% in February
- ‘Substantial upside risk’ is posed by conflict, Lagarde says
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The European Central Bank unexpectedly accelerated its wind-down of monetary stimulus, signaling it’s more concerned about record inflation than weaker economic growth as Russia’s invasion of Ukraine threatens to propel prices even higher.