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2/25, 12:06 PM (Source: TeleTrader)
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ECB's Lane sees need for extended monetary accommodation

Philip Lane, member of the Executive Board of the European Central Bank (ECB), said on Thursday that the bank "will need to continue providing ample monetary accommodation for an extended period, even after the disinflationary pressures caused by the pandemic have been sufficiently offset." He added that a challenge facing the ECB after the coronavirus pandemic will be "to ensure that the monetary policy stance delivers the timely and robust convergence of inflation to our medium-term aim."

Echoing remarks made by ECB President Christine Lagarde, Lane said the bank is "closely monitoring the evolution of longer-term nominal bond yields." He assured the ECB will purchase bonds "flexibly according to market conditions and with a view to preventing a tightening of financing conditions that is inconsistent with countering the downward impact of the pandemic on the projected path of inflation."

Breaking the News / DJ