The European Central Bank Chief Economist Philip Lane said on Monday that the recent Eurozone economic data have made him more certain that inflation is returning to the ECB 2% target, boosting the possibility of a first interest-rate cut in June, per Bloomberg. Key quotes “Both the April flash estimate for euro area inflation and the Q1 GDP number that came out improve my confidence that inflation should return to targetin a timely manner,” he was cited as saying.
Its primary tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
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