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Lagarde: Introductory Statement
Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today’s meeting of the Governing Council, which was also attended by the Commission Executive Vice-President, Mr Dombrovskis. The resurgence in coronavirus (COVID-19) infections presents renewed challenges to public health and the growth prospects of the euro area and global economies. Incoming information signals that the euro area economic recovery is losing momentum more rapidly than expected, after a strong, yet partial and uneven, rebound in economic activity over the ... (full story)
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ECB President Christine Lagarde:
— DailyFX Team Live (@DailyFXTeam) October 29, 2020
-Inflation to remain negative until early 2021
-Market based inflation indicators unchanged at low levels
-Recovery in demand to put upward pressure on prices
-Ambitious and coordinated fiscal stance remains critical$EUR #Euro
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TL;DR
— Michael Hewson
Lagarde: Euro area risks very much to the downside
ECB ready to do more
Fiscal support is essential, needs to be targeted and temporary
(@mhewson_CMC) October 29, 2020
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ECB President Lagarde says GC was in total agreement to analyse current situation, and acknowledge that risks are clearly tilted to the downside; all agreed that it was necessary to take action, recalibrate instruments at next GC meeting - GC is already prepared to take action
— Newsquawk (@Newsquawk) October 29, 2020
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Will not look at one single instrument - will touch on all instruments
— Newsquawk (@Newsquawk) October 29, 2020
High Impact
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