Lane says ECB interest rates should not remain restrictive for too long

European Central Bank chief economist Philip Lane said keeping rates high would stifle economic growth

ECB chief economist Philip Lane: 'Much of the final leg of bringing inflation sustainably back to the 2% target will be achieved next year.'

The European Central Bank should be able to reduce interest rates to a level where they no longer restrict the economy in 2025, according to chief economist Philip Lane.

“We aren’t committing ourselves in advance to a precise pace of reduction, but we will have to gradually reduce our rates,” he told French financial newspaper Les Echos in an interview.