ECB will 'stay the course' of rate hikes

The European Central Bank will continue raising interest rates for as long as it takes to bring down inflation to 2 percent, said ECB President Christine Lagarde in a panel discussion at the World Economic Forum in Davos, on Thursday.

Lagarde said inflation is still too high. On interest rates, she said: "We shall stay the course until such time when we have moved into restrictive territory."