European Central Bank (ECB) Chief Economist Philip Lane, speaking at a conference in Vilnius on Tuesday, detailed the ongoing struggle with inflation, which remains above the 2% target despite ten borrowing cost increases. Lane projected that the target would be achieved by the third quarter of 2025 and stated that deposit rates would be maintained at 4% until mid-2024.
Lane noted that consumer-price growth is moderating at a rate of 4.3%, with core inflation sitting at 4.5%. He emphasized the unsustainability of the current low gas prices and predicted a forthcoming rise, underlining the need for careful energy monitoring.
Gediminas Simkus, the Lithuanian central bank chief, also present at the conference, acknowledged enduring "lines of resistance" in relation to inflation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.