ECB's Lane says 'something genuinely new' needed for fresh action

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April 27, 2016 6:21 AM EDT

European Central Bank (ECB) sign is pictured outside its headquarters in Frankfurt, Germany, April 21, 2016. REUTERS/Ralph Orlowski

DUBLIN (Reuters) - Any further European Central Bank monetary policy action will be entirely data-driven and something "genuinely new" would be required to revise the current stance, ECB's governing council member Philip Lane said on Wednesday.

"It's entirely going to be data-driven, the reduction of the inflation forecasts in March was sufficiently substantial to trigger the extra measures. Let's see what next wave of forecasts have," Ireland's central bank governor told a news conference.

"It has to be something genuinely new in order for us to revise the current set up. The current policy is based on our current set of projections, of course they can be revised whenever there's a significant revision in the data."

(Reporting by Padraic Halpin Editing by Jeremy Gaunt)


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