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Euro zone inflation needs more momentum to move higher: Lane

FILE PHOTO: European Central Bank Chief Economist Philip Lane speaks during a Reuters Newsmaker event in New York, U.S., September 27, 2019. REUTERS/Gary He

FRANKFURT (Reuters) - Euro zone inflation needs more momentum to move towards the European Central Bank’s target so policy needs to remain “very accommodative,” ECB chief economist Philip Lane said on Friday.

“Monetary policy has to remain very accommodative because there’s not enough monetary momentum in the inflation dynamic,” Lane told an online conference. “And this is why our focus now is on trying to maintain our asset purchase programmes.”

Reporting by Balazs Koranyi; Editing by Jon Boyle

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