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ECB needs time to analyse fallout from ‘very high’ inflation: Lane -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Philip Lane, Governor of Central Bank of Ireland speaks during an event at the European Financial Forum in Dublin (Ireland), February 13, 2019. REUTERS/Clodagh Kilcoyne

FRANKFURT/Reuters – The Euro zone inflation has reached “very high”, but Philip Lane (ECB chief economist) said that it is taking time for the European Central Bank to determine the effect of increased energy prices on wage demands, and household costs.

Lane said that it was a high number, in reference to Friday’s 7.3% inflation reading.

He added, “It is crucial that we take time, use upcoming meetings and use forecasting exercises in order to combine all of that into a net evaluation.”

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