Economics

Lane Says ECB Is Monitoring Markets, Ready to Boost Buying

Chief economist comments about 2 weeks before policy meeting
ECB assumes euro-area economy hit bottom in second quarter

Philip Lane, chief economist of the European Central Bank (ECB), gestures as he answers questions after delivering a speech on monetary policy at Bloomberg's European headquarters in London, U.K., on Monday, Sept. 16, 2019. The ECB has the scope to buy bonds as part of its monetary stimulus for quite a while before hitting self-imposed limits, according Lane.Photographer: Jason Alden/Bloomberg

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By Piotr Skolimowski

May 19, 2020 at 2:59 PM UTC

Updated on

May 19, 2020 at 4:31 PM UTC

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The European Central Bank is monitoring market developments closely and is fully prepared to expand its emergency bond-buying program if needed, Chief Economist Philip Lane said.

Speaking some two weeks before the ECB’s next policy meeting, Lane stressed the importance of monetary support reaching all 19 members of the euro area as they try to rein in the impact of the coronavirus pandemic.