ECB's Lane: We project inflation will be in low 1% range next year

European Central Bank's chief economist Philip Lane said on Wednesday that Europe's acceleration of vaccines and unlocking of economies are already built into the ECB's March forecasts, as reported by Reuters.

Additional takeaways

"We project inflation will be in low 1% range next year."

"Optimistic that current round of TLTROs are proving effective, uptake is broad."

"I just don't see a situation of persistently high inflation."

Market reaction

The EUR/USD pair showed no immediate reaction to these comments and was last seen losing 0.12% on the day at 1.2000.