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Market news

22 May 2020

ECB Monetary Policy Meeting Accounts: ECB would have to stand ready to adjust PEPP, other instruments at the June meeting, when more information would be available

The ECB released account of its April 29-30 monetary policy meeting. It noted that:

  • There was evidence that the PEPP had established itself as an important anchor of stability for euro area bond markets beyond the initial effects of the announcement
  • Monetary policy measures taken in March had provided forceful monetary accommodation in rapidly evolving environment and succeeded in safeguarding the ECB’s monetary policy stance and effective monetary policy transmission across the euro area
  • Fiscal policy also needed to play essential role to address problems
  • ECB members concerned that economic scenarios may become outdated in the light of evolving conditions
  • The “mild” scenario is probably too optimistic; however, it is too early to conclude that the “severe” scenario presented by ECB staff is the most likely
  • Looking beyond the immediate disruption stemming from the coronavirus pandemic, euro area growth was expected to resume as the containment measures were gradually lifted, supported by favourable financing conditions, the euro area fiscal stance and a resumption of global activity

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.55% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.