European Central Bank Chief Economist Philip Lane said on Thursday that the exact timing of rate hikes is not the most important issue, reported Reuters. The ECB will move rates, not just once, but over time in a sequence, he noted. 

His remarks come after he earlier said that the euro area is unlikely to revert to the persistent below-target inflation trend that was so entrenched before the pandemic. "The significant jump in energy prices since the summer of 2021 represents a major macroeconomic shock," he said earlier.