ECB's Lane: Prepared to be patient in raising inflation back to target

Eren Sengezer FXStreet

European Central Bank's (ECB) chief economist Philip Lane on Wednesday said that the ECB was prepared to be patient in raising inflation back to target. "If inflation expectations get deanchored, that generates undesirable inflation momentum," Lane explained.

Regarding the economic performance of the eurozone, Lane argued that the slowdown in growth was very "sector-specific" and said that the service sector was staying resilient while noting that they were observing disproportionate shocks in the manufacturing sector.

The EUR/USD pair largely ignored Lane's comments and was last seen up 0.15% on the day at 1.1045.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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