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MNI BRIEF: No Need For ECB To Target 3-Yr Yields: Lane

LONDON (MNI)

There is no need for the European Central Bank to target a specific yield level on benchmark 2-3 year yields, as markets already believe the central bank won't raise rates for that period 'so that part of the curve is secure," chief economist Philip Lane said in an interview published Tuesday.

Addressing average inflation targeting, Lane accepts there are communication challenges ahead, but doesn't see a 'strict' version to be the outcome of the policy review, expected to be published in coming months.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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