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ECB needs time to analyse fallout from 'very high' inflation: Lane

ECB needs time to analyse fallout from 'very high' inflation: Lane
ECB needs time to analyse fallout from 'very high' inflation: Lane   -   Copyright  Thomson Reuters 2022
By Reuters

FRANKFURT – Euro zone inflation is “very high” but the European Central Bank needs time to assess the net impact of higher energy prices on workers’ wage demands and costs for households and companies, the ECB‘s chief economist Philip Lane said on Friday.

“This is a very high number,” Lane told broadcaster CNBC, referring to Friday’s 7.3% inflation reading.

“It is important that we take our time, use the upcoming meetings, use the forecasting exercises to bring all that together and form a net assessment,” he added.