ECB's Lane: Underlying inflation is not proxied by any single indicator

The European Central Bank (ECB) Chief Economist Philip Lane said on Thursday, “our revised forward guidance is a fundamental step in fulfilling our commitment to 2% inflation.”

Additional quotes

“Underlying inflation is not proxied by any single indicator.”

“Symmetrical inflation target means negative or positive deviations of inflation from 2% target are equally undesirable.”

“Systematic approach to policy embedded in forward guidance has the capacity to boost inflation expectations, strengthen inflation dynamics.”