Saxo Bank expects a “dramatic change of policy” from the ECB this year. Sign up for the New Economy Daily newsletter, follow us @economics, and subscribe to our podcast. European Central Bank President Christine Lagarde warned of the detrimental consequences of Russia’s war in Ukraine and urged governments and investors to make funding available to strengthen Europe’s resilience. Christine Lagarde “The longer the war lasts, the greater the costs are likely to be,” she said Wednesday in Cyprus. “Europe needs a plan to ensure that the necessary investment comes online as quickly and smoothly as possible, with public and private finance reinforcing each other.” Lagarde said Russia’s invasion poses “significant risks to growth” and has introduced “considerable uncertainty” into the economic outlook. At the same time, sticky energy costs, increasing food prices, and persistent bottlenecks “are likely to take inflation higher,” she said. “The best way […]