The The European Central Bank Bank (ECB) stands ready to adjust its policy as needed, the ECB chief economist, Philip Lane, reiterated, on Wednesday.
Lane also argues that low interest rates were helping the economy and not ” ‘re hurt the commercial banks, as reported by Reuters.
The reaction of the Market
These comments have been largely ignored by the market players. As of the writing, the Euro Stoxx 50 Index was down 1.35% on the day at 2,845 points. During this time, the pair EUR/USD was up 0.25% on a daily basis at 1.0872.