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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
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European Central Bank President Lagarde: Increasing regional trade can offset global losses.
Gate News bot news, according to Bloomberg, European Central Bank President Christine Lagarde stated that the expansion of trade in the region helps to offset the losses caused by global fragmentation.
During her surprise visit to Kyiv, she recalled that most of the Eurozone's exports were directed towards other European countries, including the UK, Switzerland, and Norway.
Lagarde stated in a speech: "By deepening economic ties—connecting neighboring economies more closely—we can mitigate the impact of external shocks. The growth of intra-regional trade helps offset losses in the global market."
"Ukraine is at a critical moment - facing the hardships of war, the challenges of rebuilding, and the opportunities for deepening regional integration," Lagarde said. "In a world where geopolitical realities are changing rapidly, this integration provides a clear path for recovery and sustainable prosperity."
The consequences of the war had a significant impact on the European Central Bank, with soaring energy costs causing the inflation rate in the eurozone to exceed 10% in 2022. Since then, the rate of price increases has moderated, leading policymakers to cut interest rates eight times since last June.
Following the last interest rate cut earlier this month, officials indicated that they would prefer to temporarily pause further cuts—also to assess the impact of U.S. tariffs, which are likely to change after negotiations with the European Union.