ECB's de Guindos: Ready to recalibrate unconventional measures against the pandemic
Some comments by ECB vice president, Luis de Guindos
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.
- 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
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.