Home ECB’s Lane: PMI data largely in line with latest ECB forecasts
FXStreet News

ECB’s Lane: PMI data largely in line with latest ECB forecasts

The PMI data that was published earlier today were largely in line with the European Central Bank’s (ECB) latest forecasts, ECB chief economist Philip Lane told Bloomberg on Friday.

Regarding the coronavirus outbreak, Lane noted that it was definitely a downside risk until it gets contained and added that its impact on the economy was expected to be “V-shaped.”

“The only way to ensure the ECB’s credibility is revived inflation,” Lane said. “The euro area economy is growing as domestic demand increases.”

EUR/USD reaction

The EUR/USD pair ignored these comments and was last seen trading at 1.0800, adding 0.15% on the day.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.