ECB Lagarde: We will do another 50 basis points in March

More tightening will be required if fiscal cooperation is absent, Christine Lagarde, president of the European Central Bank said as reported in The Economic Times.

Largde said, ''there is every reason to believe that we will do another 50 basis points in March. After that, we will see. We are data dependent.''

She added, ''we will do more hikes if necessary to return inflation to our target of 2% in a timely manner. It will take what it will take. What I know is that we will return inflation to 2%. And we want to not only return it to 2%, but to keep it there sustainably.''