Lane: ECB is far from inflation red zone

European Central Bank Chief Economist Philip Lane pushed back against warnings over accelerating inflation, saying there’s “very solid evidence” to believe that the current spike won’t last.

“The red zone for everyone is if inflation became persistent at a number that’s immoderately above the inflation target,” Lane said on Thursday.

“That’s a very far distance from where the euro area is. We have to be the counterweight, honestly, in this debate”, he added.