ECB’s Lane: December rate hike prudent if data unchanged

Lane's framing puts the burden of proof on the data rather than on policy intent, which matters for rate-sensitive assets well beyond Europe, including crypto and tokenized RWA markets that trade off global liquidity expectations. The explicit nod to oil volatility before the December meeting signals that the decision remains genuinely open, not pre-committed. The open question is whether incoming core and food inflation prints validate Lane's prudence case or undercut it before the meeting.