“The research finds that recovery from a service-driven recession tends to be slower than from a durable goods-driven recession“, said Christine Lagarde, President of the European Central Bank (ECB), in her remarks prepared at the 2020 ECB Forum on Banking.
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“When you think about favorable financing conditions, what matters is not only the level of financing conditions, but also the duration of political support“.
“The position function of the PEPP gives us the room to counteract the impact of the pandemic on the path of inflation“.
“While all options are on the table, the PEPP and the TLTRO they have proven themselves in today’s environment and can be dynamically adjusted to react to the evolution of the pandemic. ”
“Thus, they are likely to remain the main tools for adjusting our monetary policy“.
“We will continue to provide the financial conditions necessary to protect the economy from the impact of the pandemic.”
“It is essential that monetary policy guarantees favorable financing conditions for the entire economy.”
“The Economic recovery of the pandemic emergency could well be bumpy“.
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