ECB’s Lane: There is no basis for a sustained shift in inflation dynamics

Remarks by ECB chief economist, Philip Lane

  • Q1 GDP likely to have contracted again
  • The pandemic continues to pose ongoing risks to projected path of inflation
  • The medium-term outlook for inflation remains subdued

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Lane plays down any expectations that the ECB will be considering a different take on inflation developments even if there is a push towards 2% later in the year. Unless that keeps up through to 2022, expect the ECB to keep brushing it aside in the months ahead.

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