The European Central Bank, which last week cut interest rates for the first time in five years, will have to maintain a tight policy stance given the high uncertainty and sticky inflation in the euro area, the bank's chief economist Philip Lane said Tuesday.
"It should be clear that the high level of uncertainty and the still-elevated price pressures that are evident in the indicators for domestic inflation, services inflation and wage growth mean that we will need to maintain a restrictive monetary stance," Lane said in a speech in Dublin, Ireland.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.