President of the European Central Bank, Christine Lagarde, has called on central banks around the world to safeguard their independence amid growing political and economic pressures.

Speaking at a conference in Phnom Penh, Cambodia, on Thursday, Lagarde said the challenge facing monetary authorities had moved beyond securing independence to protecting it during periods of political tension and economic uncertainty.

According to her, central banks in emerging and developing economies have long operated under more difficult conditions, adding that advanced economies could learn from their experiences.

Lagarde made the remarks while addressing central bankers from regions including the Middle East and West Africa.

Her comments come amid increasing global concerns about political interference in monetary policy, particularly in the United States, where President Donald Trump has repeatedly criticised the Federal Reserve over interest rate policies.

The ECB president also referred to lessons from the 1970s oil crisis and stagflation period, noting that countries with weaker central bank independence often experienced higher inflation rates.

She said the evidence highlighted the importance of shielding monetary policy decisions from political and electoral pressures.

Lagarde stressed that central banks must maintain a balance between working closely with governments and preserving enough autonomy to resist short-term political influence.

She further warned that recurring economic shocks and declining public trust in institutions could weaken the credibility and authority of central banks globally.

According to her, credibility becomes most critical during periods when monetary policy decisions are politically sensitive and economically difficult.

Her remarks followed recent concerns raised by ECB board member Isabel Schnabel, who warned that rising public debt could gradually undermine central bank independence by increasing pressure on policymakers to maintain low interest rates.