Comments from the ECB's Panetta:
- We should avoid withdrawing support -- either deliberately or by tolerating adverse spillovers -- until the output gap is closed and we see inflation sustainably back at 2%
- We will have to maintain very favoruable financing conditions well beyond the end of the pandemic
- Inflation remains well below our aim in our projection horizon
- Globalization does not seem to impose an insurmountable constraint on the ECB's monetary policy
The euro is at the low of the day at 1.2079 but that's due to USD strength. There's nothing new or surprising from Panetta here.
