12 September 2026

Interview with Christine Lagarde, President of the ECB, conducted by Jean-Christophe Lalay and Maxime Mainguet on 12 September 2026

What brings you to the Fête de la pomme organised by Hervé Morin this Saturday?

I’m here as a friend, a neighbour and a Norman to offer a European voice, without being a candidate for anything. I’m here simply to help French people understand the role of Europe a little better.

On Thursday you announced an increase in the ECB’s key interest rates, which should help to contain inflation but will penalise people planning to purchase property or invest. Why did you take this decision, in a very uncertain context?

The ECB’s task is to maintain price stability. We have an inflation target of 2% over the medium term. Today, inflation is well above 2%, at 3.3% in the euro area, and there has been a major shock that will probably last longer than we had expected. The shock is the result of the conflict in the Middle East, but also the…