European Central Bank President: Independence is a prerequisite for the effective performance of central banks.

date
25/08/2025
European Central Bank President Lagarde said in an interview with US media on the 24th local time that the independence of central banks is "of decisive importance" and warned that any interference in its independence could have serious consequences. She made the above statement against the background of recent pressure from US President Trump on the Federal Reserve. Lagarde pointed out that "if a central bank loses its independence, or if this independence is threatened, it will become dysfunctional", leading to "instability, and even more serious situations". She emphasized that independence is a prerequisite for central banks to effectively fulfill their duties.