Comments by ECB president, Christine Lagarde

  • But cautious about possibility of a second wave of infections
  • Economic recovery will be sequential
  • Doesn't want to attach recovery to any of the 'alphabet soup' i.e. V, W, Nike (:D)
  • The recovery will be a complicated matter, there is a lot of uncertainty
  • Savings grew substantially over the past two months
  • It will take a while before that translates back into investments, spending

So far, she is just painting a general overview of the impact of the coronavirus outbreak and the economic fallout associated to it over the past few months.

Apart from that, she's just reaffirming that the economic recovery will take some time and I would argue that means the current set of ECB policies will stay in place until we hear more a more confident outlook by herself or the central bank moving forward.