The European Central Bank's chief economist Philip Lane spoke in an interview with the Wall Street Journal, published Sunday.
- Lane was referring to the (second) wave of COVID-19 infections surging across Europe, which has seen a fresh round of movement restrictions enacted by governments.
- "The next phase is going to be tougher"
- "The big question, and this is why there is so much uncertainty, is: how quickly can the current dynamic, with rising cases, be stabilised."
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- said the inflation rate currently forecast for 2022 was well below the ECB's target just under 2%.
- was keen to dampen expectations for fresh stimulus from the ECB, the Bank would wait to see how governments respond
Lane referring not just to measures to counter the spread of the pandemic but also fiscal measures.
