-
ECB Will Need to Be Restrictive All Year Long, Lane Says
The European Central Bank is on track to start cutting interest rates next month, but will need to keep policy in restrictive territory through 2024, according to Chief Economist Philip Lane. “The best way to frame the debate this year is that we still need to be restrictive all year long,” Lane told the Financial Times in an interview published Monday. “But within the zone of restrictiveness we can move down somewhat.” Asked about the prospect of a move at the June 6 meeting, he said that “barring major surprises, at this point in time there is enough in what we see to remove the top level of ... (full story)