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

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.