Philip R. Lane

“second wave of rising energy prices”

Philip R. Lane · said 2026-09-22 · reported 2026-09-23

Lane said a second wave of rising energy prices is likely to keep inflation higher for longer.

“If the shock does turn out to be larger and more persistent this autumn, that will hold back the [eurozone] economy,”

Philip R. Lane · said 2026-09-22 · reported 2026-09-23

Lane warned that a larger and more persistent energy shock this autumn would hold back the eurozone economy.

“The situation won't go back to normal, but there will be some improvement compared with the current situation. That said, there's a lot of uncertainty around that baseline.”

Philip R. Lane · said 2026-09-22 · reported 2026-09-23

Lane cautioned that while some improvement is expected, there is significant uncertainty around the baseline and the situation will not return to normal.

“upward pressure on food, energy more broadly – including electricity – and goods in general.”

Philip R. Lane · said 2026-09-22 · reported 2026-09-23

Lane told Le Temps that the ECB is forecasting upward pressure on food, energy, and goods.

“Our baseline reflects the market view as captured in the price of oil and gas. The future curve for oil and gas basically points to a resolution later this year.”

Philip R. Lane · said 2026-09-22 · reported 2026-09-23

Lane explained the ECB's baseline reflects the market view captured in oil and gas prices, pointing to a resolution later in the year.