ECB’s Lane: underlying inflation progress not enough

The European Central Bank is seeing some progress in its efforts to push down underlying inflation but this is not yet enough, ECB chief economist Philip Lane told a conference in Riga on Wednesday.

Lane said he does not take a lot of comfort from the recent rapid fall in overall inflation because this is largely driven by the reversal of big energy price increases from a year earlier.

This article was written by Ryan Paisey at www.forexlive.com. Source