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Monetary policy accounts, Meeting of 28-29 October 2020
Ms Schnabel reviewed the financial market developments since the Governing Council’s previous monetary policy meeting on 9-10 September 2020. Financial markets had been driven by two opposing forces. On one side, reduced risks of a contested presidential election in the United States and expectations of a large fiscal stimulus programme under a potential Biden presidency had boosted risk sentiment and revived the reflation trade. On the other side, renewed lockdown measures in different countries on the back of a surge in new coronavirus (COVID-19) cases, especially in the euro area, were increasingly reflected in ... (full story)
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ECB ACCOUNTS: POLICYMAKERS SEE POSSIBILITY THAT THE PANDEMIC MIGHT HAVE LONGER-LASTING EFFECTS BOTH ON THE DEMAND SIDE AND ON THE SUPPLY SIDE, REDUCING POTENTIAL GROWTH
— *Walter Bloomberg (@DeItaone) November 26, 2020
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ECB ACCOUNTS: IT WAS OBSERVED THAT HEADLINE INFLATION WAS NOW EXPECTED TO BE IN NEGATIVE TERRITORY FOR LONGER THAN HAD BEEN FORESEEN IN THE SEPTEMBER ECB STAFF PROJECTIONS.
— *Walter Bloomberg (@DeItaone) November 26, 2020
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ECB ACCOUNTS: EMPLOYMENT WAS EXPECTED TO CONTRACT FURTHER AND A LARGE SHARE OF JOBS WERE AT RISK
— Breaking Market News (@breakingmkts) November 26, 2020
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ECB: Economic Recovery In Euro Area Was Losing Momentum
— LiveSquawk (@LiveSquawk) November 26, 2020
- Economic Risks ‘Clearly’ Tilted To Downside
- Would Assess Data, Including Pandemic, FX Rate
- ECB Officials Wanted To Wait For Fiscal Response