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The European Central Bank is concerned about high energy prices across the euro zone, but it believes supply pressures in the oil and gas markets will ease this year, according to the bank’s top economist Philip Lane.
The dramatic increase in energy prices is a major source of concern. Of course, we need to consider the implications of inflation…The fact that prices have grown so much means that there is likely less upside this year compared to last year’s rate of gain “Lane remarked
But there are factors we need to look at, geopolitical issues among them for sure. On the other hand what we do think is supply pressures should ease in the aggregate this year… We will keep an eye on this, it’s a very important issue.