In a recent interview, Christine Lagarde, President of the European Central Bank, expressed her confidence that the ECB will successfully reach its goal of reducing inflation to 2%. She also stated her relative confidence regarding Europe’s gas reserves.

The European Central Bank increased its main interest rate to an all-time high of 4% last month.

“The key ECB interest rates have reached levels that, maintained for a sufficiently long duration, will make a substantial contribution to the timely return of inflation to the target,” Lagarde said in an interview published on Sunday in French paper La Tribune Dimanche. The ECB’s website clarified that the interview was conducted on Oct. 2.

Lagarde mentioned that the decrease in inflation was a major factor in her lack of pessimism about the near-term economic forecast.

She also mentioned that Europe’s current economic reforms and improved gas reserves contributed to this situation.

Lagarde stated that structural changes are being implemented and it is remarkable to think that in just one year, we have been able to replenish over 90% of our gas reserves by September 2023.

She mentioned that this gives us the ability to anticipate the upcoming winter with more assurance, if not completely calmly.