ECB’s Lane says too soon to say if demand slowdown hitting economy

DUBLIN (Reuters) – It is too soon to say whether the euro zone is being impacted by a slowdown in global demand or just a decrease in the amount of slack in the European economy, European Central Bank Governing Council member Philip Lane said on Wednesday.

The Governing Council needs more data to make a call on this, he added.

Investors have been wondering whether weaker growth and inflation in the euro zone this year would test the ECB’s resolve in dialing back its aggressive stimulus measures.

“In terms of soft data and some of the hard data, the question is whether it is something just to acknowledge and accept as running out of room, versus a demand issue, which would trigger more questions,” Lane, the governor of the Irish Central Bank, told journalists in Dublin.

“But let’s see. Let’s see where we are. I think it’s too early to tell.”

“In June I think and next month possibly we will have much more recent data,” he added.

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