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- ECB's Lane: Reiterates belief that inflation will fall this year, says energy prices a major issue
ECB's Lane: Reiterates belief that inflation will fall this year, says energy prices a major issue
European Central Bank Chief Economist Philip Lane on Thursday told Ireland's RTE News that he believes inflation will come down later in the year. He labeled the current spike in inflation as a part of a "pandemic cycle of inflation". Moreover, he called the spike in energy costs a "major economic issue", before reiterating that it was highly unlikely that the bank would hike interest rates this year.
Lane's remarks come after headline HICP inflation in the Eurozone rose to a fresh post-pandemic high of 5.0% in December, according to a Eurostat flash estimate. Earlier in the week, euro money markets were pricing a full 10bps rate hike from the ECB as soon as October.
Market Reaction
His remarks do not seem to have stirred any reaction in FX markets.
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