ECB's Lagarde says 2% inflation target in reach

The European Central Bank's inflation target of 2% is in reach, ECB President Christine Lagarde was quoted as saying in an interview published on Saturday.

In the interview with China's Xinhua news agency earlier this week which was released on the ECB website, Lagarde said financial stability was a prerequisite for price stability.

"We are within reach of the 2% medium-term inflation target that we have defined as price stability," she said.


Earlier this month, the ECB lowered its inflation forecasts for this year and next in the 20-nation euro zone, projecting inflation of 2.0% in 2025 and 1.6% in the coming year.

Lagarde also noted that the ECB's efforts to create a digital currency were getting to the point where, if lawmakers support the proposal, it should be ready to move forward.