ECB ready for 'sequence' of rate hikes - Philip Lane

Comes as Bank of England sent a stark warning that Britain risks a double-whammy of a recession and inflation

Philip Lane: 'I think it’s clear that at some point we’re going to be moving rates, not just once, but over time, in a sequence.'

The European Central Bank is preparing for a sequence of rate hikes that will put its benchmark rate in positive territory, but the path it takes is more important than the exact date of the first move, ECB chief economist Philip Lane said.

With inflation soaring to a record high 7.5% last month, policymakers have advocated a quicker exit from stimulus and several, including board member Isabel Schnabel, have made the case for a move as soon as July.