ECB’s Philip Lane confident inflation near peak as more hikes to come

The ECB will next set interest rates on December 15th

Philip Lane, chief economist at the European Central Bank (ECB)

European Central Bank Chief Economist Philip Lane said consumer-price growth is probably near its zenith, while acknowledging that borrowing costs will be raised again.

“It’s probably too early to make that judgment” whether inflation is cresting, “but I would be reasonably confident in saying that it is likely we are close to peak inflation,” Lane told Milano Finanza newspaper in an interview published Tuesday. “But whether this already is the peak or whether it will arrive at the start of 2023, is still uncertain.”