Central Banks
ECB’s Top Economist Says Core Inflation Suggests More Rate Hiking Needed
- Exactly what officials do in May will be ‘very data dependent’
- ECB Chief Economist Philip Lane delivers lecture in Dublin
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European Central Bank will probably have to raise borrowing costs again after next week’s increase, though officials must tailor any action to incoming data, according to Chief Economist Philip Lane.
“The current information on underlying inflation pressures suggests that it will be appropriate to raise rates further beyond our March meeting,” he said in a speech Dublin on Monday. “Exactly what we do in May will be very data dependent,” he said, adding that the ECB shouldn’t be on “autopilot.”