ECB's Lane: Still some distance to travel in relation to services inflation

European Central Bank chief economist Philip Lane said on Tuesday that there is still some distance to travel in relation to services inflation, per Reuters.

Key takeaways

"We have enough confidence, bringing inflation to target is largely completed."

"Our monetary policy will have to take into account not only the most likely path (the baseline) but also the risks to activity and inflation."

"It will be important to explore how alternative rate paths hold up in various plausible sensitivity and scenario analyses."

"Primary task for monetary policymakers is to make sure that any temporary deviations from target do not turn into longer-term deviations."

Market reaction

EUR/USD largely ignores these comments and was last seen rising 0.2% on the day at 1.1600.