MNI BRIEF: EZ Recession Chances "Quite Far Away" -ECB Lane

The possibility of a mild recession in the euro area seems “quite far away” based on the internal dynamics of the bloc, European Central Bank executive board member Philip Lane told an MNI Webcast on Wednesday.

“Of course, if we have new shocks we have to assess that,” he said, adding that monetary easing and the delayed consumption recovery indicates that the Eurozone is not moving into a world of recession. “It’s a good, very modest recovery”.

Lane admitted that consumption growth has grown less than the ECB expected because hadn’t yet 'felt' a increase in disposable incomes but that “at a certain time, reality will come to perception”.