Economy
Phillip Lane warns ECB will keep rates at ‘base case’ of at least 4% to tackle inflation
ECB chief economist said interest rates are at a level to have a significant impact on inflation, but warned it will take time for price growth to ease
Inflation remains well above the European Central Bank’s medium-term target and there is still more work to be done to rein in rising prices, Philip Lane, the central bank’s chief economist, has warned.
The Irish economist added that the current level of European interest rates, which were increased to 4 per cent last month, are now the “base case” and must be kept at this level until inflation is tamed.
“Price increases are still well ...
