The European Central Bank (ECB) has been holding its key interest rate at 4% despite a declining inflation rate and a sluggish eurozone economy. Financial markets are betting that the central bank will begin cutting rates this spring, perhaps as early as April.
On Thursday, February 8, the Brookings Institution’s Hutchins Center on Fiscal & Monetary Policy hosted Philip Lane, a member of the ECB Executive Board and its chief economist, who offered his observations on disinflation in the euro area. Before joining the ECB Executive Board in 2019, Lane served for four years as governor of the Central Bank of Ireland. He previously was a professor at Trinity College Dublin.
Following Lane’s remarks, he responded to questions from Gian Maria Milesi-Ferretti, senior fellow in the Hutchins Center, and from the in-person and virtual audiences.
Registration is required to attend an event in person and guests at Brookings are required to attest to their state of health before attending. Visitors may not enter the building if they are feeling ill for any reason, have any symptoms commonly associated with COVID-19, or have tested positive for COVID-19 at any time in the preceding 5 days or longer in accordance with current CDC guidance, or have been advised by their healthcare professional or otherwise to not enter any space where some persons may not be vaccinated.