'We haven't reached the corner yet' — ECB's battle with inflation at crucial stage

Philip Lane, ECB chief economist, said: “We do think that this spectacular reversal of energy prices will feed into core [inflation], but timing is uncertain.” 

ECB chief economist Philip Lane said they won't be given an indication when rate hikes might end because it gives a "sense of certainty which doesn't exist". 

The European Central Bank’s (ECB) battle with inflation is nearing a crucial stage but more work needs to be done as its chief economist warns that we haven’t turned the corner yet.

The ECB is due to meet again next month where another 0.25% increase in interest rates is on the cards as inflation remains stubbornly high. Following the increase earlier this month, interest rates now stand at 3.75%.