Central Banks
Lane Says ECB July Hike Reasonable, September Too Far Away
- Sees ‘sustained period where rates will remain restrictive’
- ECB chief economist comments in CNBC interview in Sintra
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The European Central Bank will probably have to increase borrowing costs again next month, though it’s too early to decide if more is needed after that, according to Chief Economist Philip Lane.
“We are close enough to the July meeting that it is reasonable to say that barring a material change in the outlook that another hike looks reasonable for July,” Lane told CNBC in an interview in Sintra, Portugal. “I’m not even thinking too hard about September — there are so many data points that will come to us between now and September.”