“In a world of low inflation and low interest rates, it is plausible that the impact of negative shocks on observed inflation is likely to be more persistent,” European Central Bank’s (ECB) chief economist Philip Lane said on Friday.
Commenting on the ECB’s monetary policy strategy review, Lane noted that it remains a high priority even if it is unavoidably delayed by the COVID-19 pandemic.
Market reaction
These comments had no impact on the shared currency’s market valuation. As of writing, the EUR/USD pair was down 0.43% on a daily basis at 1.0902.
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