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Inflation Risks Tilted to the Upside, ECB's Lagarde Says

European Central Bank President Christine Lagarde said inflation risks are skewed to the upside. "A prolonged war in the Middle East could lead to a larger and longer-lasting upward shift in energy prices than currently expected, raising euro-area inflation further," Lagarde said. She was speaking to reporters in Frankfurt following the central bank's decision to keep interest rates on hold on Thursday. (Source: Bloomberg)