Central Banks
ECB’s Lane Urges ‘Steady Pace’ of Rate Hikes to Minimize Risks
- Lane says bigger increases could generate adverse effects
- Other ECB officials have floated a 75 basis-point step
Philip Lane
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
European Central Bank Chief Economist Philip Lane urged a “steady pace” of interest-rate increases in fighting record inflation to minimize negative consequences -- seeming to push back after some of his colleagues floated a 75 basis-point hike at next week’s meeting.
Lane, one of the 25-strong Governing Council’s most-dovish members, said the same overall boost to borrowing costs is less likely to generate adverse effects in the form of a “multi-step calibrated series rather than a smaller number of larger rate increases.”