Extreme caution must be exercised before abandoning support measures – Ignazio Visco

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Central banks should use “extreme prudence” before abandoning support measures, the member of the Governing Council of the European Central Bank, Ignazio Visco, to the G20, according to Reuters.

Additional statements

“Recognizing that inflation expectations are on the rise, but the view is that before we get out of easy money conditions we should expect a substantial recovery.”

“There was no G20 discussion on outgoing support measures, we are fully focused on the need for support.”

“The resistance from the financial sector has been substantial.”

“The G20 agreed on the need for greater financial inclusion and access to digitized payment systems.”

Market reaction

The pair EUR/USD remains under heavy downward pressure following these comments and was last seen shedding 0.7% on the day at 1.2090.

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