The euro zone is unlikely to return to the persistent trend of being below target inflation that held firm before the pandemic, the chief economist at the Eurozone said on Thursday. European Central Bank, Philip Laneas reported by Reuters.
“ANDhe significant jump in energy prices since the summer of 2021 represents a major macroeconomic shock“, Lane said. He added that cyclical factors are likely to be important for the course of monetary policy, in addition to the underlying process of normalization. He stated that it is important to “take the time to observe the impact of changes in financing conditions under conditions of inflation.
The salary agreements reflect an understanding that current inflation has a temporary component, Lane explained.
Source: Fx Street
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