Sunday, July 3

ECB’s Lane says first normalization steps will validate market tightening

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PARIS — The European Central Bank’s steps towards normalizing monetary policy will bring it in line with market conditions, ECB chief economist Philip Lane said on Wednesday.

“It’s robust to make the initial steps in normalization to validate the tightening that has already happened in many financial markets,” Lane told an economics conference in Paris. (Reporting by Leigh Thomas Editing by Mark Potter)