An ECB rate cut next week won't be a declaration of victory -Lane

FRANKFURT, May 27 (Reuters) - The European Central Bank's likely interest rate cut next week will be no declaration of victory over inflation, the ECB's chief economist Philip Lane said on Monday.

"The discussion about having a rate cut next week is not a declaration of victory," Lane told an event in Dublin.

"There is still a lot of cost pressure in the European economy, we can maybe remove the top level of restriction but... we're still in the middle of this." (Reporting By Conor Humphries; Writing by Francesco Canepa in Frankfurt; Editing by Susan Fenton)