Comments by ECB policymaker, Yves Mersch
- Although Germany might achieve it
- Consequences of pandemic probably have a longer duration than foreseen when we took the latest calibration decisions in the summer
- An obvious candidate for calibration is the timeline extension
Nothing really new from Mersch, as his 'calibration' comments are largely in relation to extending PEPP stimulus - which is expected next month.
He also said that the central bank would find it difficult to maintain a dividend ban on banks beyond the end of this year, so that's a plus for European banks.
