Remarks by ECB chief economist, Philip Lane

ECB Lane
  • Not a sign of a chronic situation
  • Supply bottlenecks will largely be fixed next year
  • Energy demand forecasts have also fallen short due to rapid pace of recovery
  • But these headaches are not going to eliminate the grassroots of the recovery
  • Inflation unexpectedly high at the moment
  • But we believe there are strong reasons for inflation to fall next year
  • Full interview (may be gated)

Nothing out of the usual from Lane, as it fits with the narrative that they are still maintaining that inflation is largely 'transitory'. Again, only time will tell if they will get things right this time around (after being wrong for the last six or seven months now).