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ECB policy tightening now would do more harm than good: Lagarde

Reuters
FILE PHOTO: ECB President Lagarde

FRANKFURT (Reuters) - Tightening monetary policy now to temper high inflation would hurt the recovery and take effect just when inflation would be coming down on its own, European Central Bank President Christine Lagarde said on Monday.

"If we were to take any tightening measures now, it could cause far more harm than it would do any good," Lagarde told EU lawmakers in a hearing. "It’s best to nurture now and make sure we can deliver those favourable financing conditions to support the recovery."

(Reporting by Balazs Koranyi; Editing by Francesco Canepa)