ECB's Lane: Contribution of monetary policy to changes in inequality is small

The contribution of monetary policy to changes in inequality is small when compared with the role of fiscal policy, European Central Bank's (ECB) chief economist Philip Lane argued on Monday.

Lane refrained from commenting on the policy outlook or the current state of the economy.

Despite the mixed PMI data from the euro area and Germany, the broad-based USD weakness is helping the EUR/USD pair cling to its daily gains near mid-1.11s on Monday. In the second half of the day, the IHS Markit will publish the preliminary Manufacturing and Services PMI data from the US.