Lagarde confirmed her intention to raise the rate by 25 basis points in July, the size of the September rate hike will be larger, if necessary

ECB President Lagarde believes that ECB policy changes are already working in the economy.

The ECB still expects positive growth rates, despite the supply shock hitting the economy, it could last longer.

At the same time, inflationary pressures are intensifying and spreading through the domestic economy, the ECB must act decisively and consistently.