ECB ready to adjust its policy instruments – Philip Lane

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Philip Lane

ECB chief economist Philip Lane

The European Central Bank is willing to adjust its policy tools to accomplish its inflation target, according to its chief economist Philip Lane.

Lane’s remarks in the Jackson Hole conference on August 27 came a few hours after Fed chair Jerome Powell announced the Fed is adopting an average inflation target.

At the same session, Tharman Shanmugaratnam, chairman of the Monetary Authority of Singapore, called for new public policies to cope with coming major challenges.

“The pandemic crisis

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