ECB's Lane Warns of Downside Risks to Eurozone Consumption if Energy Prices Stay High
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Philip Lane, chief economist and executive board member of the European Central Bank, said on the 11th that if energy prices continue to rise, they could weigh on household consumption in the eurozone as early as within the year. Speaking at a conference in Wexford, Ireland, Lane said, "What we are seeing now is a rise in energy prices. If this continues, it could weigh on consumption in the autumn, and this remains an uncertain issue." He said the downside risks to eurozone consumption remain an uncertain issue for policymakers.
