Lane told Italian business newspaper Milano Finanza (Tuesday) that he is “reasonably confident” that inflation is near its peak. But it is unclear whether inflation will peak or peak in early 2023. The inflation rate in the euro area, which has reached a record level since the introduction of the euro in October, was just over 10 percent, and fell to 10 percent in November. Most recently, the ECB tackled inflation by raising interest rates by 0.75 percentage points.
“We assume that further rate hikes will be necessary, but a lot has already been done,” Lane said. According to the economist, further rate hikes should take into account the extent of “what we’ve already done”.
The market is speculating on the scope of the rate hike at the next ECB council meeting in mid-December. It is currently unclear whether the central bank plans to raise interest rates again by 0.75 percentage points or by 0.5 percentage points.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
