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ECB's Lane says high inflation rates 'horrible'

Summary by Ground News
Euro zone companies are finally absorbing wage pressures and the labour market has started to soften. European Central Bank chief economist Philip Lane said this suggests inflation pressures from employee pay rises are finally subsiding. The ECB raised its deposit rate to a record high 4% last week to combat excessive inflation.

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RTÉ broke the news in Ireland on Friday, September 22, 2023.
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