ECB Chief Economist Warns of Persistent Inflation Due to El Niño

BNR Nieuwsradio

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Inflation in the eurozone will hover around 3 percent for the rest of the year. That is the expectation of Philip Lane, chief economist at the European Central Bank (ECB). "That the rate continues to fluctuate around this level of 3 percent is likely what people will be watching for the rest of the year," he told Irish RTE Radio 1. "It depends on the course of energy prices," Lane added.

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Philip Lane also argued that although it is a low rate compared to 10%, it is still a lot when you think of calibrating interest rates in response to a shock