11/18/2019, 2:42 PM (Source: TeleTrader)
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Lane: ECB ready for every Brexit scenario

European Central Bank's Chief Economist Philip Lane (pictured) said on Monday that the ECB is prepared for every scenario in which Great Britain leaves the European Union, including "the worst one, the disorderly Brexit."

The Bank of England has been working closely with the ECB in the last two years, Lane pointed out, adding that any outcome of the Brexit process "wouldn't catch us by surprise."

The ECB's targeted inflation for the year 2021 is 1.5%, Lane noted. He also stated that "monetary policy doesn’t have long term results as it can only take care of cycles," and underlined that economic "trends depend on wider policies."

Breaking the News / MS