ECB’s Lane: We are ready to do everything to revive the economy – Il Sole 24
|In an interview with the Italian daily, Il Sole 24, on Thursday, the European Central Bank (ECB) Chief Economist Philip Lane said that the central bank is ready to use all its options to revive the economy from the coronavirus shock.
Key quotes
“ECB will do everything it can to ensure the current crisis won't be made worse by a credit crunch.”
“When asked about a possible new interest rate cut, says asset purchases under Pandemic Emergency Purchase Programme (PEPP) have proven to be particularly effective in the current state of uncertainty, market stress.”
“Being part of the eurozone will help countries such as Italy to respond to coronavirus shock.”
“ECB acted to counter substantial negative inflation shock.”
“Inflation is still far from our target; QE will still be needed.”
Market reaction
EUR/USD is consolidating the drop to 1.1325 lows amid a broad US dollar comeback, as the risk-off mood deteriorated in late Asia/ early Europe.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.