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The European Central Bank (ECB) Governing Council member Lane is back on the wires now, via Reuters, commenting on the inflation outlook.

Key Headlines:

I’m fairly sure core inflation is on an upward path.

We think inflation is on an upward path.

There is enough improvement in employment to make it hard to see low inflation outcomes.

Dominant tool now will be forward guidance on rates.

Open minded about possibility of hitting limits of labor market slack.

Expects wage inflation seen now to ‘eventually turn into price pressure’.