Further interest rate hikes necessary, says ECB Economist Philip Lane

The chief economist said the eurozone is currently in its "most intense phase" of inflation

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

The ECB will need to hike interest rates further to control inflation which is currently in its "most intense phase", the bank's chief economist Philip Lane has said. 

Speaking to the German newspaper, Die Zeit, Mr Lane argued that the recent turmoil in the euro zone's banking sector is likely to disappear, allowing the ECB to continue targeting an inflation rate of 2%.