9/15, 6:05 PM (Source: TeleTrader)
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ECB's Lane: Alternative measures necessary in policy review

European Central Bank Chief Economist Philip Lane stated during a webinar on Wednesday that with rates near "lower band" the bank may need to look at alternative measures of the economic growth.

Lane also noted that "it's not a good idea" to assess a monetary policy stance only by the volume of asset purchases, however, "persistence" is a more efficient approach.

As far as inflation goes, ECB is looking at a range of inflation measures, including the GDP deflator. Lane also called for a revised measure that would account for owner-occupied housing.

Breaking the News / LH