ECB’s Lane: inflation is expected to remain modest over the next two years

Philip Lane, governor of the Central Bank of Ireland and a member of the European Central Bank's governing council, was out on the wires in the past hour and said:

   •  ECB’s GC yesterday re-affirmed its assessment that current and near-term economic prospects are favourable
   •  GC will need to see sustained adjustment in the path of inflation before its convinced
   •  Inflation is expected to remain modest over the next two years
   •  Asset purchases to run until the end of September 2018, or beyond, if necessary
   •  Europe’s expansion is supported by the ECB’s accommodative monetary policy