"By bringing interest rates to a sufficiently restrictive
level and fostering a period of below-trend growth through the
dampening of demand, we will counteract above-target medium-term
inflation pressures and also ensure that the prolonged phase of
above-target inflation does not become embedded," Lane said at
an event in Ireland.
(Reporting By Padraic Halpin; Writing by Francesco Canepa in
Frankfurt)
FRANKFURT, April 19 (Reuters) - The European Central
Bank is raising interest rates to suppress economic growth and,
with it, inflation, the ECB's chief economist Philip Lane said
on Wednesday.
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