Central Banks
ECB Is Deliberately Vague on Target for Interest Rate, Lane Says
- More hikes needed to wrestle back control over inflation
- Officials have good understanding on how rates affect economy
Philip Lane
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
The European Central Bank is being purposefully vague on how far interest rates will have to rise to ensure inflation returns to the 2% goal, according to Chief Economist Philip Lane.
Policymakers agreed at their last session in September that rate hikes will be needed at the next several meetings, Lane said on the sidelines of the annual meetings of the International Monetary Fund in Washington Saturday. The Governing Council’s next gathering is scheduled for Oct. 27.