Philip R. Lane, Member of the Executive Board of the European Central Bank, delivered a lecture at the International Center for Monetary and Banking Studies (ICMB) in Geneva on September 23, 2026. The lecture focused on the outlook for the euro area economy. According to the September 2026 ECB staff macroeconomic projections, the euro area economy is expected to continue growing, albeit at a moderate pace. The projections show that real GDP growth is expected to be around 1.5% in 2026 and 1.3% in 2027. The inflation outlook is also expected to remain moderate, with the Harmonised Index of Consumer Prices (HICP) inflation rate projected to be around 2.2% in 2026 and 1.9% in 2027. The lecture also discussed the role of energy prices, exchange rates, and fiscal policy in shaping the outlook for the euro area economy. The ECB staff projections suggest that the fiscal stance is expected to be neutral in 2026 and 2027, with a budget deficit of around 2.5% of GDP in both years. The lecture also touched on the topic of trade and the impact of rising prices for AI-related goods on the euro area economy. The ECB staff projections suggest that the import prices of AI goods are expected to increase by around 5% in 2026 and 4% in 2027. Overall, the lecture provided an overview of the current state of the euro area economy and the key factors that are expected to shape its outlook in the coming years. The event was held at the ICMB in Geneva, with the main program starting at 14:00 on September 23, 2026. Admission was free, but registration was required. The lecture was open to the public, and attendees had the opportunity to ask questions and engage in a discussion with Philip R. Lane. The ICMB is located at 11a, Avenue de la Paix, 1202 Geneva, Switzerland. The venue has a capacity of around 200 people, and parking is available nearby. The event was organized by the ICMB, and more information can be found on their website. The lecture was part of a series of events organized by the ICMB, which aims to promote discussion and debate on key issues related to monetary and banking policy. The ICMB is a leading research center in the field of monetary and banking studies, and its events are widely attended by academics, policymakers, and industry professionals. In terms of economic meaning, the lecture highlighted the importance of monitoring the outlook for the euro area economy, given its impact on monetary policy decisions and financial markets. The ECB staff projections provide a framework for understanding the key drivers of the economy and the potential risks and challenges that lie ahead. The lecture also underscored the need for continued vigilance and flexibility in responding to changing economic conditions. The event was well-attended, with a diverse group of participants from academia, policy institutions, and the private sector. The discussion was lively and informative, with a range of questions and comments from the audience. Overall, the lecture provided a valuable insight into the current state of the euro area economy and the key factors that are expected to shape its outlook in the coming years.