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ECB keeps its finger on the pulse in the situation with the coronavirus

Summary

ECB President says economic recovery remains uncertain, depends on containment of COVID-19 Description video: ECB 크리스틴 “경제 회복, 코로나19 확산 통제에 달려”\n\nThe head of the European Central Bank says economic recovery is dependent on containing the COVID-19 outbreak.\nIn a joint […]

ECB President says economic recovery remains uncertain, depends on containment of COVID-19

Description video:
ECB 크리스틴 “경제 회복, 코로나19 확산 통제에 달려”\n\nThe head of the European Central Bank says economic recovery is dependent on containing the COVID-19 outbreak.\nIn a joint meeting with France and Germany on Monday, ECB President Christine Lagarde said the strength of the recovery remains very uncertain, hinging on both the progress of the pandemic as well as the success of containment policies.\nShe stated that developments in both exchange and inflation rates should be carefully assessed due to uncertainty surrounding the pandemic, adding the organization is paying very close attention to the strengthening of the Euro.\n\n2020-09-22, 10:00 (KST)\n\n#ECB #Economy #COVID19 \n\n📣 Arirang News(Facebook) : https://www.facebook.com/arirangtvnews\n📣 Arirang News(Twitter) : https://twitter.com/arirangtvnews\n📣 News Center(YouTube) : https://www.youtube.com/c/NEWSCENTER_ARIRANGTV

ECB keeps its finger on the pulse in the situation with the coronavirus

ECB says it remains vigilant and ready to ease monetary policy in an attempt to balance the potential economic impact of the coronavirus outbreak.

«We keep our finger on the pulse and closely monitor all incoming data. Our experts develop scenarios for changing monetary policy», – said ECB Vice President Luis de Guindos Jurado at a speech in London.

«The Governing Council stands ready to adjust all its instruments accordingly to achieve the inflation target».

ECB keeps its finger on the pulse in the situation with the coronavirus

The announcement comes after a series of comments from central bankers around the world indicating that a coordinated global economic response to the epidemic is possible..

Leading stock markets have their worst week since the financial crisis as fears of a global recession intensified by the rapid spread of the virus outside of China.

Beijing has already lowered its base lending rates in an attempt to level things off.

Fed Chairman Jerome Hayden Powell issued a statement on Friday in which he confirmed that while the fundamentals of the US economy remain strong, the coronavirus poses risks to economic activity..

«We will use our tools and act accordingly to support the economy», – added Powell.

Experts believe that the Fed will cut interest rates at the next meeting in March.

Bank of Japan Governor Haruhiko Kuroda said on Monday that the regulator will seek to stabilize markets and offer sufficient liquidity through a series of transactions and asset purchases..

French Finance Minister Bruno Le Maire Maire) also pledged that the G7 will take concerted action to limit the economic impact of the COVID-19 outbreak.