ECB's de Guindos: Ready to recalibrate unconventional measures against the pandemic

Author: Justin Low | Category: Central Banks

Some comments by ECB vice president, Luis de Guindos

Luis de Guindos
  • The main antidote to the pandemic will not be monetary policy
  • But rather government reforms, fiscal policies
  • Worried about a two-speed recovery in Europe after the pandemic
The headline makes it sounds like they are ready to wean the market off the current policy measures in place, but I reckon he is just meaning that the ECB stands ready to adjust all of its instruments as necessary to deal with the current economic fallout.

Besides that, the mention of a two-speed recovery across the region is an interesting point. The current set of policy measures may not be suitable for everyone if the crisis only serves to create a bigger divide in economic welfare among the bigger names.
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