ECB's Lane: ECB stands ready to adjust its policy as needed

The European Central Bank (ECB) stands ready to adjust its policy as needed, ECB's chief economist Philip Lane reiterated on Wednesday. 

Lane further argued that low interest rates were helping the economy and not hurting the commercial banks, as reported by Reuters.

Market reaction

These comments were largely ignored by the market participants. As of writing, the Euro Stoxx 50 Index was down 1.35% on the day at 2,845 points. Meanwhile, the EUR/USD pair was up 0.25% on a daily basis at 1.0872.