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Panetta Says ECB Is Ready to Expand Pandemic Buying If Needed
The European Central Bank is ready to boost its emergency bond-buying program if needed, Executive Board member Fabio Panetta said one day after Germany announced a hard lockdown in response to a surge in coronavirus cases. The 2021 will likely be a “pandemic year” with high uncertainty and widespread vulnerabilities among companies and households, the Italian told a conference on Monday. Monetary and fiscal policy need to remain accommodative for an extended period of time, he added, calling on governments to focus on investments to boost growth. The ECB decided last week to increase the size of its pandemic ... (full story)