JACKSON HOLE, Wyoming (Reuters) – It’s not but assured that the European Central Financial institution manages to decrease inflation again to its 2% goal, so restrictive financial coverage remains to be wanted, ECB chief economist Philip Lane stated on Saturday.

“The return to target is not yet secure,” Lane advised the U.S. Federal Reserve’s annual financial symposium in Jackson Gap. “The monetary stance will have to remain in restrictive territory for as long as needed to shepherd the disinflation process towards a timely return to the target.”

However Lane additionally warned towards preserving charges excessive for too lengthy as that would ship chronically below-target inflation.