By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde said Thursday the ECB would make every effort to ensure that inflation returned to its 2% medium-term target.

“We will make every effort to ensure that inflation is at the 2% target in the medium term,” Lagarde said in an interview, according to German public broadcaster ZDF’s dubbing of her remarks. “We are doing everything necessary to achieve that outcome.”

The comments followed the ECB Governing Council’s decision earlier Thursday to raise the deposit rate by 25bp to 2.50%.