ECB's Lane warns of eurozone GDP hit from Russia-Ukraine conflict

More refined forecasts are expected at the ECB's March 10 policy meeting, as is a decision on the future of its Asset Purchase Programme

Natali Sevriukova reacts next to her house following a rocket attack on Kyiv; ECB economist Philip Lane has warned the conflict may negatively impact the eurozone economy.

The European Central Bank's (ECB) chief economist Philip Lane has told fellow policymakers that the Ukraine conflict may reduce the eurozone's economic output by 0.3%-0.4% this year.

This was the "middle scenario" presented by Mr Lane at a governing council meeting in Paris on Thursday, hours after Russia invaded Ukraine and as the ECB is grappling with how the crisis may affect its plans to withdraw monetary stimulus measures.