ECB: Lane, 'very harmful inflation, necessary rates for workers and families'

"Inflation is very harmful" and "people really suffer if inflation becomes too high": this was said by the ECB's chief economist, Philip Lane, responding in an interview with ANSA to a question on the criticism, often made by politicians also in Italy, of ECB rate hikes.

"If the inflation rate had remained at 3% or 4%" with an inertia after the Russian-Ukrainian energy shock - said Lane - "this would have been very harmful for Italian workers, for Italian families". If the ECB didn't raise rates when necessary, "inflation would be too high, and if people expected inflation to be too high, long-term rates would rise," Lane said, referring to spread tensions.