Lagarde: Eurozone heading for strong growth despite Ukraine war

European Central Bank President Christine Lagarde said today that the euro zone economy is still on track for strong growth this year even if the war in Ukraine causes commodity prices to rise.

"If the baseline scenario for employees' expectations comes true, the economy will still have to grow strongly in 2022," Lagarde said at a press conference. Lagarde added that while other growth scenarios are also possible, inflation is still expected to gradually decline and stabilize around the ECB's 2% target in 2024.