ECB's Lane: Inflation rates will remain higher than expected for longer than originally though

European Central Bank Chief Economist Philip Lane said that inflation rates in the Eurozone will remain higher than expected for longer than originally thought, according to Reuters citing Germany's Faz. As a result, the ECB is revising its assessment of the duration of inflation, Lane added, saying that inflation may be approaching its medium-term target. Lane reiterated that he expected inflation to ease in the course of the year, but that it is uncertain as to how fast and how far it will fall. Geopolitical tensions are currently a very significant risk factor, especially for Europe, Lane concluded.