FRANKFURT (Reuters) - The European Central Bank should accumulate data before each interest rate cut given the great uncertainty that surrounds the economic outlook, ECB chief economist Philip Lane said on Thursday.
"(A) robust approach to making rate decisions under conditions of high uncertainty is to avoid pre-commitments or creating unwarranted expectations about the future rate path," Lane said in remarks prepared for a lecture at the Stanford Graduate School of Business.
"In particular, moving from one meeting to the next meeting and from one projection round to the next projection round allows for the accumulation of further data that can help inform the rate decision."
(Reporting By Francesco Canepa; Editing by Chris Reese)
