ECB: Lane, inflation at 3% is 'a lot' compared to the 2% target

Inflation in the euro area, currently at 3%, is "very" compared to the ECB target of 2%. Philip Lane, chief economist and member of the central bank's executive committee, said this during an event in Dublin.

“Inflation is now one percentage point above our target,” Lane said.

“You could say that compared to 10% (marked in 2022 after the war in Ukraine, ed.) it's not a lot, but it's a lot compared to the typical way we think about calibrating rates.”