Cyprus Mail

ECB’s Lane says high energy prices a major concern


High energy price across the euro zone is a major concern for the European Central Bank, but it sees supply pressures easing in the oil and gas markets this year, the bank’s chief economist Philip Lane said on Friday.

“The fact that energy prices have risen so much is a major concern. Of course we have to think about in terms of the inflation consequences… The fact that prices have risen so much does mean compared to last year’s rate of increase, there’s probably less upside this year,” Lane told Ireland’s RTE.

“But there are factors we need to look at, geopolitical issues among them for sure. On the other hand what we do think is supply pressures should ease in the aggregate this year… We will keep an eye on this, it’s a very important issue.”

Related Posts

Aramco CEO warns of global oil crunch due to lack of investment

Reuters News Service

Cryptoverse: Is the end of the bitcoin winter nigh?

Reuters News Service

Stocks rally as euro gains on likely rate hikes

Reuters News Service

Toyota to cut global production plan by 100,000 in June

Reuters News Service

One of these 3 have 100x potential, Ripple (XRP), Chronoly (CRNO) Terra (LUNA)?

CM Guest Columnist

Cyprus Business Now

Kyriacos Nicolaou