European Central Bank President Christine Lagarde stated on Friday that the inflation rises this year are only temporary and that it would go back to pre-pandemic levels in 2022.Speaking at a press conference following the Eurogroup meeting in Lisbon, Lagarde also noted that she believes the European economy was in a recovery process but remained cautious saying that it was still uncertain. Additionally, she noted that given this uncertainty “coordinated policies will continue to be needed for months to come,” adding that the ECB should “see through the period of higher inflation.” Lagarde also commented that the central bank was closely monitoring the rise that has been seen in yields and that they remain committed to preserving favourable conditions, but noted that it was “too early to debate long term issues, too early to ask medium-to-long-term questions.”