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MARKETS · rates central banks · 2026-06-23SCOOP 55
Philip R. Lane: Introductory Remarks
The ECB published introductory remarks by Philip R.
At a glance
- Per the remarks, euro area GDP contracted 0.2% in Q1 2026, or grew 0.3% excluding Ireland
- Headline euro area inflation was 3.2% in May 2026 with core at 2.6%, per the remarks
- Lane described the June 25-basis-point rate increase as appropriate
VERDICT — CONFIRMED
The ECB published introductory remarks by Philip R. Lane, delivered June 23 to the European Parliament's Committee on Economic and Monetary Affairs in Brussels for an exchange of views on the economic and fiscal implications of the Middle East crisis.
Per the text, euro area GDP contracted 0.2% in Q1 2026 (growth was 0.3% excluding Ireland), headline inflation stood at 3.2% in May with core at 2.6%, and energy inflation held at 10.8%. Lane called the June 25-basis-point rate increase appropriate, with the Governing Council taking a data-dependent, meeting-by-meeting approach toward the 2% target.
Key facts on file
- Per the remarks, euro area GDP contracted 0.2% in Q1 2026, or grew 0.3% excluding Ireland
- Headline euro area inflation was 3.2% in May 2026 with core at 2.6%, per the remarks
- Lane described the June 25-basis-point rate increase as appropriate
OFFICIAL RECORD
ECB — Press ReleasesSources · two-source rule
PRIMARY · DOCECB — Press Releases
CITE THIS FILE — The Dossier Wire · mkt-2026-06-23-f2 · filed 2026-06-23 · https://thedwire.com/wire/mkt-2026-06-23-f2-philip-r-lane-introductory-remarks.html · Primary and corroborating sources listed above; archived at publication. Republishing & licensing: hello@thedwire.com.
