“Today we decided to activate the flexibility in reinvestment activity and asked our committees to work quickly on conceiving new tools to face the retail in case of insufficient reinvestment. So in case of reinvestment if that was not enough, do not worry, we are ready.” This was stated by Klaas Knott, ECB Governing Council Member and President of Nederlandsche Bank, speaking to Young Factor.
Knott said that the ECB’s first line of defense against the financial fragmentation risks highlighted by the differences is the reinvestment of the Pepp pandemic programme, which in accordance with the decision of the European Central Bank Council, which convened this morning in the event of an emergency, ask technical departments to accelerate the anti-proliferation tool, as the Use for options in case of insufficient epidemic program.
The ‘main’ message of the ECB statement is that ‘at this stage of the ‘normalization’ set ‘to achieve inflation targets, we could find on our way an overreaction from the markets’ and this ‘could prevent us from doing our monetary policy, to adjust our monetary line.’ He stated Fabio Panetta, member of the European Central Bank’s Executive Committee, speaking before the European Parliament’s Economics Committee He added, “One thing must be very clear: the anti-fragmentation shield “does not prevent our monetary policy but is a necessary condition for bringing inflation back to 2%”.
The European Central Bank has instructed technical offices to “accelerate the completion of a new anti-fragmentation instrument” for submission to the Governing Council. This was announced by the European Central Bank after the emergency meeting to warn of the spread.
The European Central Bank Governors, at today’s meeting, saw that it was an appropriate response to give a mandate to technical offices to prepare a tool against financial fragmentation. Mario Centeno, Governor of the Portuguese Central Bank and an advisor to the European Central Bank, said this during a speech in Lisbon reported by Bloomberg. In a clear sign of the discrepancy between a turning point in the signal for monetary normalization and the need to continue supporting debt with expansionary measures, Centeno said monetary policy is “working over the medium term.”
The Euro is stronger against the Dollar, and it has spread downwards. Shine Banks (ANSA)
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