ECB President Christine Lagarde and her colleagues are walking a fine line as they likely believe they can get away with holding steady for now; but in the face of resurging COVID and re-lockdowns, she will need to send a strong signal that more stimulus is coming... "whatever it takes."
“I don’t think the Governing Council is ready” to agree new measures, said Florian Hense, an economist at Berenberg.
“Maybe we’ll hear more clearly that something is coming.”
The statement confirmed the "more to come" narrative:
On the basis of this updated assessment, the Governing Council will recalibrate its instruments, as appropriate, to respond to the unfolding situation and to ensure that financing conditions remain favourable to support the economic recovery and counteract the negative impact of the pandemic on the projected inflation path.
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