ECB Chief Economist Philip Lane offered a cautiously optimistic take on inflation, saying slowing in goods and services gauges are welcome and that underlying pressures will keep weakening.
In an interview with Irish website the Currency, he described 2023 as the year of “peak second round” as the effects of prior increases feed through the economy.
Lane didn’t specify a preference for what to do at the upcoming Sept. 14 interest-rate decision, where officials are poised to debate either another increase or a pause. President Christine Lagarde, speaking on Monday, also refrained from offering a view. Officials have stated that they want to bring consumer price growth to 2% in a “timely manner.” Lane offered a definition of that.
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