ECB’s Philip Lane believes inflation will top 2% for some time

The remarks underscore the ECB’s belief that progress toward a lasting peace with Iran isn’t enough on its own to tame inflation in Europe

Governor of the Central Bank of Ireland Philip Lane at the official opening of the bank's new Dublin Docklands headquarters.

European Central Bank officials are facing the risk that inflation will hover above their goal “for quite some time,” according to Chief Economist Philip Lane.

“A range of forward-looking signals point to inflationary pressures in the coming months,” Lane told the European Parliament on Tuesday in Brussels, citing surveys of purchasing managers and selling-price expectations, among other things.