ECB has no certainty on how high interest rates must go – Lane

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May 26 (Reuters) – The European Central Bank should not try to predict where interest rate hikes need to end given the vast uncertainty in inflation dynamics, chief economist Philip Lane said on Friday.

“We’ve chosen at the Governing Council not to convey a week by week or meeting by meeting (estimate on the) terminal rate because it conveys a sense of certainty which doesn’t exist,” Lane told a conference.

His comments come just days after a host of policymakers including Germany’s Joachim Nagel, France’s Francois Villeroy de Galhau and the Netherlands’ Klaas Knot made specific predictions on the number of rate hikes still needed and timing of the peak rate.

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