European Central Bank (ECB) Chief Economist Philip Lane said on Monday that hiking interest rates once again in July seems "appropriate" but noted the bank is still to see what it will do in September.
Speaking at an event in Madrid, Lane noted the bank has done "a lot of hiking" already. Reflecting on inflation, the ECB official stated he expects inflation to decline "fairly quickly" and reach the bank's 2% target in the next couple of years.
The ECB raised rates by another 25 basis points at its June meeting last week and numerous policymakers, including the bank's President Christine Lagarde, have said that they will not pause hikes in July, with some pointing out a hike is possible in September, as well.
