FRANKFURT (Reuters) – The European Central Financial institution will proceed its emergency bond purchases so long as the coronavirus pandemic continues to disrupt regular financial exercise, ECB chief economist Philip Lane advised French newspaper Les Echos in an interview.
The ECB earlier stated the emergency buy would final till least June 30 however already signalled that it will “recalibrate” this programme on the December assembly, a message taken to imply that the purchases could be expanded and prolonged.
“We received’t terminate the programme till sure situations have been met,” Les Echos quoted Lane as saying on Sunday. “To start with, the pandemic should now not interrupt regular financial exercise.”
Lane stated that the present lockdown measures would “completely” result in a drop in financial exercise however the influence shall be much less extreme than within the spring, when restrictions have been extra debilitating.
For a full textual content of the interview, click on on: https://www.ecb.europa.eu/press/inter/date/2020/html/ecb.in201122~3a68c446f1.en.html
(Reporting by Balazs Koranyi)
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