NEW YORK (Reuters) - The date of the first post-crisis interest rate hike by the European Central Bank depends purely on economic data and effectively adjusts itself, the ECB’s chief economist Philip Lane said on Wednesday.
“This forward guidance is an automatic adjuster,” Lane said in New York. “If there is good news the date of rate lift-off will move forward, if there is bad news, the expected lift-off will move backwards.”
Reporting By Balazs Koranyi; Writing by Francesco Canepa; Editing by Toby Chopra
Our Standards: The Thomson Reuters Trust Principles.