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ECB will stay the course of rate hikes, Lagarde says

ECB's Lagarde attends a news conference following the monetary policy meeting in Frankfurt

(Reuters) - The European Central Bank will continue raising interest rates and leave them in restrictive territory for as long as it takes to bring down inflation to its 2% target, ECB President Christine Lagarde said on Thursday.

"We shall stay the course until such a time when we have moved into restrictive territory for long enough so that we can return inflation to 2% in a timely manner," she said in a panel discussion during the World Economic Forum.

(Reporting by Balazs Koranyi and Francesco Canepa)