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While responding to questions posted on Twitter,  European Central Bank chief  economist Philip Lane reiterated that the ECB had the tools if more easing was needed.

“Inflation remains below target and there are downside risks to the growth outlook,” Lane explained. “Pro-active measures (including negative rates) are the surest way to ensure inflation climbs to our aim.”

Regarding the outlook, Lane said that although the prolongation of uncertainties was  weighing on our growth outlook, they were not expecting a recession.  

The EUR/USD pair largely ignored these remarks and was last seen down 0.1% on the day at 1.1202.