ECB’s Lane pushes back against talk of new era of inflation By Reuters
FRANKFURT (Reuters) - The European Central Bank has a "lot of work to do" to raise inflation back to its 2% goal and market talk of rapidly rising prices is misplaced, the Philip Lane, the bank's chief economist, said on Thursday. Euro zone inflation is approaching 2%, its fastest rate in years, on the back of fiscal support and the unwinding of last year's oil price crash, prompting some commentators to predict a new era of inflation. But Lane pushed back on this narrative, arguing that the labour market will take years to get back to...
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