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3 months ago
Risks facing euro zone economy are receding - ECB's Lane
May 12, 2017 / 8:15 AM / 3 months ago

Risks facing euro zone economy are receding - ECB's Lane

FILE PHOTO: Philip Lane, Governor of the Central Bank of Ireland speaks in London, Britain, October 28, 2016.Toby Melville/File Photo

FRANKFURT (Reuters) - The euro zone economy still faces risks although they are receding, European Central Bank governing council member Philip Lane said on Friday.

"Risks are on the downside. That's still the case. But the tail risk is fading," Lane, who is head of the Irish central bankers, told Bloomberg TV in an interview.

He echoed recent comments from ECB President Mario Draghi, ECB vice president Vitor Constancio and the bank's chief economist Peter Praet.

They have repeatedly said that they want to see inflation steadily heading to the ECB's target of below but close to 2 percent before withdrawing its monetary stimulus.

"The current forward guidance is still in place for now," Lane added.

Reporting by Andreas Framke; Editing by Hugh Lawson

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