ECB President Christine Lagarde said that rising bond yields will curb economic growth and limit the transmission of rising energy costs to inflation. “Although economic growth remains resilient, long-term interest rates have risen significantly since our last meeting, which will slow growth and lower the degree of price transmission than estimated when we predicted in September,” Lagarde said on Monday. She told European lawmakers in Brussels that there has been no second round of effects so far, which means that the ECB should “take prudent measures as appropriate to control inflation.”

ECB President Christine Lagarde said that rising bond yields will curb economic growth and limit the transmission of rising energy costs to inflation. “Although economic growth remains resilient, long-term interest rates have risen significantly since our last meeting, which will slow growth and lower the degree of price transmission than estimated when we predicted in September,” Lagarde said on Monday. She told European lawmakers in Brussels that there has been no second round of effects so far, which means that the ECB should “take prudent measures as appropriate to control inflation.”