ECB's Lane: Reiterates belief that inflation will fall this year, says energy prices a major issue

European Central Bank Chief Economist Philip Lane on Thursday told Ireland's RTE News that he believes inflation will come down later in the year. He labeled the current spike in inflation as a part of a "pandemic cycle of inflation". Moreover, he called the spike in energy costs a "major economic issue", before reiterating that it was highly unlikely that the bank would hike interest rates this year.