© Reuters. FILE PHOTO: Executive Board member of the European Central Bank Philip Lane attends the Fortune Global Forum in Paris, France, November 18, 2019. REUTERS/Gonzalo Fuentes
FRANKFURT (Reuters) – As euro zone inflation settles at levels around the European Central Bank’s 2% target, interest rates hikes are likely but the exact timing of the first move is not the most relevant issue, ECB chief economist Philip Lane said on Thursday.
“I think it’s clear that at some point we’re going to be moving rates, not just once, but over time, in a sequence,” Lane told a conference at think tank Bruegel.
Lane said that the entire process of normalisation and level of the neutral policy rate is a bigger issue than the date of lift-off.
ECB preparing for a “sequence” of rate hikes: Lane