ECB's Panetta: Lockdowns created deflationary risks
Comments by ECB executive board member, Fabio Panetta
- The economic recovery in 2021-22 won't make up for lost ground in 2020
Panetta adds to the comments by de Cos earlier here, in justifying the action by the ECB yesterday. In any case, the market certainly responded more favourably with Italian bonds rallying and the yields spread tightening further.
So, at least that is a vote of confidence in the ECB by investors - for now at least.