The ECB is "clearly" more confident in
reaching the 2% inflation target and is simply "taking its time" waiting for economic data to confirm that prices are moving "in a sustainable manner" towards that target".
The chief economist of the European Central Bank, Philip Lane, interviewed on CNBC, explaining that "it will be necessary to see, meeting after meeting", the pace at which rates will be reduced in response to a question on the hypothesis of two cuts before August and another two by the end of the year, raised by the Greek governor Yannis Stournaras. Lane focused on the growth differential between the euro area and the USA and on the trend in wages, one of the factors of inflationary pressures under observation by the ECB. "Wages are not the source of inflationary problems, which is what we need is that workers recover purchasing power and that companies (by curbing prices, ed.) absorb part of this burden on the profits front".
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