MADRID, June 19 (Reuters) – The European Central Financial institution is more likely to elevate rates of interest once more subsequent month however it’s too early to foretell the choice of the September assembly, which might be formed by incoming information, the ECB’s chief economist Philip Lane mentioned on Monday.
The ECB raised euro zone borrowing prices to their highest stage in 22 years on Thursday and mentioned stubbornly excessive inflation all however assured one other transfer subsequent month.
Lane put the emphasis on incoming information as the primary driver of future selections.
“At this level, we’re certainly data-driven,” he mentioned. “July just isn’t so far-off, we will say until there is a materials change one other hike (is probably going).”
“However to me September is so far-off; let’s examine in September,” Lane added.
ECB policymakers have lined up behind plans to lift rates of interest once more subsequent month, however views diverge on coverage additional down the street as underlying inflation stays stubbornly excessive even because the economic system is barely rising.
Reporting By Jesus Aguado, Emma Pinedo and Belen Carreno; Writing by Francesco Canepa in Frankfurt
Modifying by Jon Boyle and Gareth Jones
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