ECB Chief Economist Lane: September Will Be the Next Key Policy Node

ECB Chief Economist Philip R. Lane said the European Central Bank will reassess and possibly adjust its policy stance in September, with interest-rate decisions continuing to depend on economic data. According to Jin10, he said the current situation is a "medium-sized shock" and that whether policy is adjusted in September depends largely on whether oil and gas prices can stay high or whether a lasting solution can be found to reopen supply through the Strait of Hormuz. Lane also said the European economy is mainly supported by domestic demand, adding that Europe trades with the whole world and that the United States is not a dominant factor in international trade. He said the ECB had previously kept rates unchanged to assess the impact of the Middle East conflict on eurozone inflation and economic growth.