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ECB's Lane: It would be a surprise if there are no second-round effects
ECB's Lane: Energy prices are already reversing; if that continues, headline inflation could fall while underlying inflation rises
ECB's Lane: Underlying inflation is a guide to 1-year ahead inflation
ECB's Lane: It's informative that underlying inflation hasn't moved yet, it means it's the usual delayed response
ECB's Lane: Important that ECB has an instrument for multiple equilibriums on bond market
ECB's Lane: I would put a high bar on directional forward guidance now
ECB's Lane: We put a very high premium on consensus, would be difficult with dots.
ECB'S NAGEL STATES FRANCE NEEDS TO ADDRESS ITS FINANCIAL ISSUES.
ECB'S NAGEL SAYS ACTIONS WILL BE TAKEN TO BRING INFLATION BACK TO 2%.
ECB'S NAGEL STATES THERE IS NO RISK OF FISCAL DOMINANCE.