-
ECB’s Lane Warns of Long Road Back to Normal on Virus Resurgence
European Central Bank chief economist Philip Lane cautioned against reading too much into recent economic data and warned that a global resurgence of coronavirus cases will weigh on consumers and businesses for some time. It would be “unwise” to draw strong conclusions from the euro area’s less-bad-than-expected second-quarter performance, which should be jointly assessed with the three months through September, Lane said in a blog post published on the ECB’s website. He also said a rise in coronavirus infections in some European regions as well as globally is dampening consumer spending and business ... (full story)