ECB’s Lane: Inflation over 2% is costly for the economy

European Central Bank chief economist Lane spoke earlier:

Now in Q&A

• Central banks try to hit inflation in the medium term
• Inflation over 2% is costly for the economy
• Says won’t be speculating on future European Central Bank policy moves
• the most efficient wat to tighten monetary policy is via interest rates

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EUR/USD is not doing a lot so far during the session, Its still early though.