-
ECB Heavy Hitters Are Laying Groundwork for Response to Slowdown
Some of the European Central Bank’s heavy hitters are laying the groundwork for action. The top economist and the market chief at the Frankfurt-based institution have already signaled they’re discussing options in case the current euro-area slowdown worsens. There have been similar hints from Francois Villeroy de Galhau, who is the Bank of France Governor and a potential contender to be next ECB president. The backdrop is a recession in Italy, stagnation in Germany, and a sharply changed outlook for the 19-nation euro area. Investors have also responded, with the euro near its weakest since mid-2017 and the yield ... (full story)