The chief economist says that the last round of the European Central Bank “has ended”

CNBC’s chief economist at CNBC on Tuesday said the last period of European Central Bank’s monetary policy interventions to take “is done”.

“We believe that the last session takes place, which reduces the peak 10 ( %), to 2 %, this element is over, but on the basis of aspiration, we need to stand ready to make sure that any deviation we see does not become guaranteed, does not change a medium -term image,” Lynn said in an interview with CNBC’s Annette Weisbach in ECB.

The euro area The inflation rate It came 1.9 % for the month of May, without the central bank’s goal by 2 %. that it Meanwhile, the main interest rate was reduced to 2 % From its peak by 4 % during the past year, with the suggestion of the money market currently suggesting expectations to trim an average quarter of another point to 1.75 % by the end of the year.

When asked about what it means to be “done” with the course, Lynn said that it means that the European Central Bank had been able to remove price trauma in 2021 and 2022 – which stems from the energy crisis and the supply chain restrictions – from the system. However, he warned that there are already “new shocks that strike the system” that monetary policy will need to adapt to, and that it has been possible “that there may be some periodic movements a little less.”

Instead of dealing with a shock in prices, the European Central Bank is now watching a mixture of energy market movements, exchange rates and inflation expectations to ensure “non -” reaction “to small deviations in inflation. It is also to monitor not to overlook any medium -term changes to future future factors that affect the local economy.