ECB's Lane: Baseline assumes localised lockdowns over coming year

"There is no indication that we are hitting the lower bound with rates," European Central Bank's (ECB) chief economist Philip Lane said on Monday, as reported by Reuters.

Commenting on the recovery outlook, Lane noted that the ECB's baseline assumes that there will be localised lockdowns over the coming year.

Market reaction

These comments don't seem to be having a significant impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was up 0.35% on a daily basis at 1.1886.