We just lowered our interest rates, as inflation is falling. But what was behind this decision? What is the state of our economy? And more importantly, what comes next?Our new co-host Paul Gordon discusses these questions with our Chief Economist Philip R. Lane.The views expressed are those of the speakers and not necessarily those of the European Central Bank.Published on 27 June 2024 and recorded on 18 June 2024.Why did the ECB’s Governing Council decide to lower its key interest rates? What were the determining factors?How has inflation evolved in recent months? Is the economy recovering? And how have wages and employment been affected?What are our next monetary policy steps? How will current uncertainty affect future decisions?What can we expect from this year’s ECB Forum on Central Banking? And what is Chief Economist Philip R. Lane most looking forward?Chief Economist Philip R. Lane shares his hot tip with our listeners.Philip R. Lane interview with Financial Times, 27 May 2024https://www.ecb.europa.eu/press/inter/date/2024/html/ecb.in240527~ffaddc865d.en.htmlPhilip R. Lane speech on Monetary policy and the disinflation process, 11 June 2024https://www.ecb.europa.eu/press/key/date/2024/html/ecb.sp240611~caf9681480.en.htmlThe ECB Podcast: Quo vadis, inflation? March 2024https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod240325_episode81.en.htmlECB Forum on Central Banking 2024 – programmehttps://www.ecb.europa.eu/press/conferences/ecbforum/html/index.en.html Young Economist Prize 2024https://www.ecb.europa.eu/press/conferences/ecbforum/YE_competition/html/index.en.html European Central Bankhttps://www.ecb.europa.eu/home/html/index.en.html European Banking Supervisionhttps://www.bankingsupervision.europa.eu/home/html/index.en.html