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.
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by Jyotsna V
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