ECB's Lane: Difficult to argue against this month's rate hike

Key facts

• ECB Chief Economist Philip Lane believes the central bank's recent rate hike was difficult to oppose.
• Lane's comments suggest the ECB's monetary policy decision was well-reasoned.

European Central Bank Chief Economist Philip Lane indicated that it is challenging to dispute the necessity of the central bank's decision to increase borrowing costs during the current month. His remarks suggest that the ECB's monetary policy action was considered appropriate and well-justified.