Lane makes case that inflation surge is transitory
ECB chief economist stresses weak mid-term inflation dynamics in the eurozone
Above-target inflation is a temporary phenomenon boosted by base effects, supply chain bottlenecks and higher energy prices, European Central Bank chief economist Philip Lane argued on November 8.
The ECB board member stressed a tightening of monetary policy now would only curb inflation one year down the road, when current inflationary pressures are expected to fade. Additionally, a premature stimulus withdrawal would weaken growth and hamper job creation over the medium term.
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