ECB’s Lane: Inflation to fall later this year
European Central Bank (ECB) Chief Economist Philip Lane told RTE News on Friday he expects inflation in the Eurozone will fall later in 2022.
Lane blamed the ongoing high-rate trend on what he described as the COVID-19 “pandemic cycle of inflation.” He also estimated the ECB is unlikely to change interest rates in 2022. Meanwhile, Lane showed less optimism regarding the rise in the prices of energy, which he labeled a “major economic issue” for the bloc.
Back in November, Lane expressed his belief that inflation in the euro area will not surpass the ECB’s target of 2% in the forthcoming period.
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