Brussels: European Central Bank (ECB) President Christine Lagarde stated on Friday that the current interest rate path is in a "good position" and that the bank remains committed to its medium-term inflation target of 2%. 'Our determination, our commitment, and our duty are to keep price stability, and price stability is around 2% inflation,' Lagarde told German broadcaster ARD.

According to Anadolu Agency, Lagarde emphasized that the ECB has delivered on its promises, as inflation is currently measured at 2%, and assured that the central bank will continue to maintain this level. She reiterated the ECB's commitment to the 2% target, asserting that they will do "whatever it takes" to keep inflation at this level.

Lagarde acknowledged the current uncertainties and unpredictabilities facing the global economy but assured that the ECB is committed to maintaining certainty and stability on the price front. Discussing the interest rate path, she affirmed that the ECB is "in a good position now."

Further, Lagarde highlighted Europe's tremendous potential and stressed the importance of reducing trade barriers and simplifying regulations within the eurozone. She also addressed the prospect of the euro replacing the dollar as the world's largest reserve currency, noting that the euro's strength is closely tied to the economic robustness of the eurozone and the need for more integrated and efficient economic systems.

In June, the eurozone's annual inflation rate reached the ECB's medium-term target of 2%, up from 1.9% in May. During the same period, the central bank reduced three key policy rates by 25 basis points, aligning with market expectations and lowering the key rate from 2.25% to 2%.