The European Central Bank should raise interest rates at a "steady pace" until it reaches the end of its hiking cycle, ECB chief economist Philip Lane said on Monday.
"A steady pace - that is neither too slow nor too fast - in closing the gap to the terminal rate is important for several reasons," he said.
"The appropriate size of the individual increments will be larger the wider the gap to the terminal rate and the more skewed the risks to the inflation target."
Several policymakers have made the case in recent days for a 75 basis point rate hike next month after a 50 basis point move in July. Lane's comments did not make clear his own preference.
