European Central Bank
In an interview with The Currency website, Philip Lane echoed ECB President Christine Lagarde's call for colleagues to be "humble" in evaluating their own forecasting skills. "We just have to emphasize the uncertainty factor," Lane said.
While expectations for a decline in eurozone inflation from historically high levels have come true, Lane pointed out that the process of getting it back to the ECB's goal rate of 2% might take many years and be fraught with uncertainties.
“I want to underline that some slowdown in the growth in pricing of goods and services has already happened, and it is not to be welcomed, in terms of searching for signals of momentum and signals of a shift in direction,” he added.
source: thecurrency.news
While expectations for a decline in eurozone inflation from historically high levels have come true, Lane pointed out that the process of getting it back to the ECB's goal rate of 2% might take many years and be fraught with uncertainties.
“I want to underline that some slowdown in the growth in pricing of goods and services has already happened, and it is not to be welcomed, in terms of searching for signals of momentum and signals of a shift in direction,” he added.
source: thecurrency.news
