© Reuters. FILE PHOTO: European Central Bank Chief Economist Philip Lane speaks during a Reuters Newsmaker event in New York, U.S., September 27, 2019. REUTERS/Gary He
FRANKFURT (Reuters) – Real interest rates in the euro zone have already risen “quite a bit”, the European Central Bank’s chief economist said on Thursday, in comments suggesting he thought part of the ECB’s inflation-fighting efforts had been completed.
“For the rates that matter for the real economy there has been basically a 200-250 basis points increase in real interest rates,” Philip Lane told an event in Florence.
“I’m not necessarily saying this is all that needs to be done but the idea (is) that real rates at the relevant horizons have moved quite a bit.”