ECB's economist Lane speaks in London
- the more quickly is a virus contained, the smaller will be the impact on the world economy and the faster will be the recovery
- more widespread contagion and a longer interruption in normal economic activity constitutes additional downside risks to near-term projections
The comments from Lane are not surprising and more like economic truisms than new insights on monetary policy.
He does add:
- monetary accommodation still needed in the euro area
- Easing measures must be sufficiently preemptive
Again nothing surprising there