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ECB’s Lane Sounds Alarm on Worrying Financing Conditions
The euro-area economy is seeing initial signs of strained financing conditions, European Central Bank chief economist Philip Lane said in remarks just two weeks before policy makers meet to reset their monetary stimulus. “There are some worrying signals in recent survey data,” he said in an online speech Thursday, citing indicators on lending, investment, and access to finance for small- and medium-sized businesses. “We will recalibrate our instruments, as appropriate, to respond to the unfolding situation and to ensure that financing conditions remain favorable to support the economic recovery.” The ... (full story)