Chief economist Lane of the European Central Bank described the inflation outlook as "quite mild".

European Central Bank Chief Economist Philip Lane said he does not see significant risks of inflation in either direction. This suggests that he and his colleagues may be willing to temporarily keep interest rates at their current level. Lane said in a panel discussion in Frankfurt on Monday, "It seems that we will not return to the extremely low inflation equilibrium before the pandemic," but there also does not appear to be "significant risks of inflation persistently well above the target." Lane added, "Our assessment of the inflation outlook appears quite moderate at the moment."