Lane Says ECB Will Do What’s Needed for Economy Amid Ukraine War
- Staff projections revised to include invasion, new price data
- Officials will also consider new tools if needed, Lane says
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The European Central Bank is closely monitoring the economic consequences of the war in Ukraine and will do whatever’s necessary to support the continent’s rebound from the pandemic as the impact becomes clearer, according to Chief Economist Philip Lane.
In his final public remarks before the weeklong quiet period that precedes ECB policy meetings, Lane said Russia’s invasion and the latest record euro-zone inflation reading, released earlier Wednesday, will be taken into account in upcoming economic projections.