European shares hit another record peak on Monday after comments from European Central Bank Chief Christine Lagarde helped beat back bets of tighter monetary policy, while a fall in miners kept gains at bay.
ECB President Lagarde said the current inflation spike will be longer than once anticipated but would fade next year, so policy action now would hit the economy just as price growth starts to moderate on its own.
The continent-wide STOXX 600 index rose 0.4%, while Germany’s DAX index gained 0.3%, as both gauges hit a new record highs.
