ECB's de Guindos: ECB currently calibrating different stimulus options
Comments by ECB vice president, Luis de Guindos
- ECB will consider oil price, vaccine in December decision
- News of vaccine bolstered sentiment, animal spirits
- Composition of December stimulus depends on forecasts
- The goal is to keep credit flowing
The latest suggestion by de Guindos above seems to be that they may do less than what they intended to do given recent developments in the vaccine space.
I reckon a combination of extending PEPP stimulus and enhancing TLTROs is still the likeliest option, but perhaps they may scale back on the size of the "bazooka".