The Chief Economist of the European Central Bank (ECB), Philip Lanehe warned Tuesday, in an interview with CNBC, of the double risk of higher inflation for longer and of a next recession.
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“With the uncertainty, we have to manage both risks“.
“On the one hand, there could be forces that keep inflation higher than expected for longer. On the other hand, we have the risk of a slowdown in the economy, which would reduce inflationary pressure.”
“So it’s about having a clear vision for the upcoming meetings, having a direction to move away from the very low rates that we’ve had for quite a few years, but also fully respecting the importance of relying on data. And keeping it optional.” to respond to what we see, in the coming months.
Market reaction
EUR/USD extends losses below 1.0500, currently trading at 1.0490, shedding 0.26% on the day after hitting a six-day low at 1.0489.
Source: Fx Street
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