ECB President Christine Lagarde said interest rates would not move in lockstep with oil and gas prices, pushing back on market expectations for aggressive rate hikes as energy costs rise. Speaking at a news conference in Dublin on Friday, Lagarde said the European Central Bank would assess the effects of energy prices on inflation, growth and consumption, while ECB Vice President Boris Vujcic also indicated that policymakers would consider a broad range of economic data. Markets see three to four additional rate hikes over the next year, following two moves in recent months, as oil and gas prices approach the ECB's adverse scenario and could push inflation close to 4% by year-end. Lagarde said a measured response remained sufficient to contain inflation and that the ECB was positioned to assess incoming data. She also said rising government borrowing costs reflected global developments, with no disorderly movements or local tensions in bond markets.