The European Central Bank must take its time to cut interest rates properly, ECB Chief Economist Philip Lane said on Thursday.
“There’s a lot of evidence that’s accumulating, but to be fair, we’ve been on pause since last September and we really need to take the time to get this right, from retaining to lifting restrictions,” Ryan told CNBC’s Steve Sage Wick.
Ryan said the March meeting of the Eurozone Central Bank was an “important milestone” in the accumulation of evidence showing that “the deflationary process has been ongoing.” During the meeting, the European Central Bank kept interest rates unchanged and released its latest macroeconomic forecasts.
“We continue to make progress and continue to move towards our 2% goal,” Ryan said Thursday.
The G20 inflation rate fell to 2.6% in February.
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