When using Classic Outlook, you can force Outlook to match the default folder language with the language that Outlook is installed in (the UI language).
Start-> type; outlook.exe /resetfoldernames
(note the space in the command above)
This will not affect the language of Outlook on the Web (Outlook.com). You can change the language via this link directly to the "Language and time" Settings page;
https://outlook.live.com/mail/0/options/general/timeAndLanguage