ECB signals no need to correct market speculation of June rate hike

'They see the same shock that we see,' says chief economist about the impact of oil prices

"We are likely to make a further upward adjustment to the inflation forecast in June," said Philip Lane, chief economist for the European Central Bank, in an interview with Nikkei. (Photo by Kyra Jaeger)

FRANKFURT, Germany -- While market speculation spreads over the European Central Bank's June rate, Philip Lane, the ECB's chief economist, said in an interview with Nikkei, "I don't think the market needs some kind of extra guidance from us," signaling no need to correct this speculation and reinforcing the direction toward further tightening.