Energy prices up 40.8%
Christine Lagarde said the bank's baseline scenario was subdued economic growth
The ECB's benchmark is now 1.25% for lending to banks, with more hikes on tap
Another European rate hike expected in September; Bank of Japan short-term policy rate stays at minus 0.1%
Only one in five banks surveyed consider climate risk when granting loans
Europe receives close to 40% of its natural gas from Russia
Some of the major oil producing nations agreed to add 400,000 barrels per day in March. Brent crude was priced at US$90.09
Energy prices, up 28.6%, played a major role in record inflation for nations using euro currency, but ECB predicts it will fall to 1.8% in 2023 and 2024
Prices have recovered after a slide in late November when the new variant emerged
Work remains to reinforce the shared currency, finance ministers say