ECB's Lane: Rates can still go considerably below where they are now

While speaking at an event organized by Reuters in New York, European Central Bank's (ECB) chief economist Philip Lane said that the ECB rates could still go considerably below where they are now.

"Negative rate at which depositors would hold cash could still be quite significant because of the expense of holding cash," Lane explained and added that he doesn't yet see a "technical limit" to how low rates can go.

"Any potential collision with QE limits is far in the future with no current reason to consider raising them," Lane noted.

The EUR/USD didn't react to these comments and was last seen trading at 1.032, adding 0.1% on the day.