ECB's latest rate cut will help inflation back to 2%, Lane says
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Philip R. Lane Chief Economist, European Central Bank talks to Balazs Koranyi, Chief Correspondent, Reuters (not pictured) at the London Stock Exchange, London, Britain, June 17, 2024. REUTERS/Anna Gordon/File Photo
FRANKFURT (Reuters) -The European Central Bank's latest rate cut will help inflation bounce back to its 2% goal after an expected sag over the next year and a half, the ECB's chief economist Philip Lane said on Wednesday.
"This cut helps ensure that the projected negative inflation deviation over the next eighteen months remains temporary and does not convert into a longer-term deviation of inflation from the target," Lane said. "This cut also guards against any uncertainty about our reaction function."
(Reporting by Francesco CanepaEditing by Peter Graff)
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