ECB has started to win inflation fight, Lane says

"There’s significant evidence that monetary policy is kicking in," says ECB Chief Economist Philip Lane

Philip Lane, chief economist at the European Central Bank (ECB)

Euro zone inflation pressures have begun to ease, including for all-important core prices, but the European Central Bank will not end rate hikes until it is confident price growth is heading back towards 2%, ECB Chief Economist Philip Lane said.

The ECB has raised rates by 3 percentage points since July and promised another half a percentage increase in March, in the hope that more expensive funding will curtail demand enough to get price growth down from levels still above 8%.