ECB's Schnabel: Some confidence indicators have been positive

Comments from the ECB's Schnabel:

• In recent weeks some confidence indicators have come in positive, which suggests that the recession could turn out somewhat milder than expected
• Overall we are in the range of our baseline scenario
• Full text

Some optimism from Schnabel is a good sign but the euro isn't responding as risk trades dip a bit.

n recent weeks some confidence indicators have come in positive, which suggests that the recession could turn out somewhat milder than expected. But overall we are in the range of our baseline scenario. What is more important is what happens in the medium term. How strong and fast will the recovery be? That depends to a great extent on the policy reaction. A strong European recovery fund is absolutely crucial for Europe as a whole.