ECB’s Schnabel: Further monetary policy support is required
European Central Bank (ECB) Executive Board member Isabel Schnabel (pictured) confirmed on Wednesday that Europe is in the midst of the second wave of the coronavirus pandemic and that new measures will come at significant personal and economic cost slowing the recovery path.
Schnabel said that further monetary policy support is required to safeguard favorable financial conditions and underpin economic activity in the face of a deteriorating growth outlook.
She asserted that in the coming weeks, the Governing Council will assess how ECB’s toolkit should be adjusted to best support the economy during the course of next year and beyond, based on the medium-term inflation outlook.
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