ECB officials spar as Philip Lane rebuffs talk of September rate hike

European Central Bank chief economist says 'September will be decided in September, July will be decided in July'

ECB chief economist Philip Lane's comments contrasted sharply with those of executive board member Isabel Schnabel, whose speech in focused on the dangers to consumer prices. File picture

European Central Bank officials revealed a sharpening divide on the outlook for interest rate hikes: Some favour caution while executive board member Isabel Schnabel insisted this is no time for complacency.

With an increase in borrowing costs already pencilled in for the July 27 decision, chief economist Philip Lane and the Slovak and Lithuanian governors said there’s no urgency in committing now about what to do at the meeting on September 14.