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- ECB’s Lane: We need to bring rates into restrictive territory – Financial Times
ECB’s Lane: We need to bring rates into restrictive territory – Financial Times
“Interest rates are now ‘ballpark’ neutral,” said European Central Bank (ECB) Chief Economist Phillip Lane during an interview with the Financial Times (FT), reported Reuters during early Tuesday.
The ECB policymaker also states, per FT, “We haven’t seen ‘normal’ in Europe for a long time.”
Additional important comments
Inflation pressures were starting to build from the summer of 2021.
What happened in the 1970s was a misdiagnosis over a long period of time.
We have proven our determination to deliver on inflation target.
Compared to December, there have been big declines in energy prices.
We are working under very high uncertainty.
This is why we must not be so confident about where rates need to go.
But interest rates do have to be higher than they are now.
Where we exactly end up will depend on a lot of factors.
EUR/USD picks up bids
Given the hawkish comments from the key ECB Governing Council member, EUR/USD picks up bids to print mild gains around 1.0830.
Also read: EUR/USD remains sideways around 1.0830 amid ambiguity in risk profile, US PPI eyed
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