FRANKFURT—European Central Bank President Christine Lagarde said on Friday that inflation in the euro zone will fade so the ECB should not tighten policy as it could choke off the recovery, and hinted at continued bond purchases next year. Inflation in the euro zone hit 4.1 percent in October, pushed up by higher energy costs, and is expected to stay above the ECB’s 2 percent target next year as suppliers strained by the pandemic cannot keep up with the reopening of the economy. But Lagarde insisted the ECB should not hit the brake now but rather keep adding fuel to the recovery of the economy. “When inflation pressure is expected to fade—as is the case today—it does not make sense to react by tightening policy,” she said. “The tightening would not affect the economy until after the shock has already passed.” The ECB is due to decide on the future …