Remarks by ECB chief economist, Philip Lane

  • ECB does not have a fixed volume approach to PEPP
  • Not mechanical in deciding the pace of PEPP purchases
  • September will be important but a lot of data is still missing
  • It will take a long time for labour market to recover
  • US and Eurozone are in different situations

After yesterday, it just makes the ECB's job so much easier to 'outdove' the Fed and Lane's remarks continues to hammer home the point made by policymakers at the central bank throughout the week already.