Ecb press conference lagarde

Why did the Governing Council decide not to cut interest rates? I'd like to hear your response to the travel restrictions announced by President Donald Trump yesterday evening, in particular as regards what impact that could have on the global economy and whether you think the responses of various governments to the virus outbreak and the spread of the virus could plunge the global economy into recession this year. Now, of course OMT remains part of the toolbox and we are not suggesting that we would eliminate OMT, but for the crisis we're going through at the moment, PEPP is clearly designed to that effect, added to which the triggering of OMT of course is a matter for the Governing Council to decide. Initially there were only some sectors that were badly affected. Since our last Governing Council meeting in late January, the spread of the coronavirus COVID has been a major shock to the growth prospects of the global and euro area economies and has heightened market volatility. Accordingly, we decided on a comprehensive package of monetary policy measures. Your cookie preference has expired We are always working to improve this website for our users.

You know that the legal act was published shortly after that, which distinguishes very clearly the APP holdings from the PEPP holdings. The PELTROs consist of seven additional refinancing operations commencing in May and maturing in a staggered sequence between July and September in line with the duration of our collateral easing measures. What is good about our today's deliberations is that there was rallying support around the table to use all the tools available and to consider adjusting our instruments going forward in order to target those risks that we see as threats to stability in the euro area. Just to be clear, because you just said that the Governing Council did not discuss APP; I was wondering, was there any discussion about increasing or adjusting the size and composition of PEPP? Is it necessary to have some form of national or maybe European guarantee schemes to ensure that? They will be carried out through a fixed rate tender procedure with full allotment, with an interest rate that is equal to the average rate on the deposit facility. Learn more about how we use cookies.

I would certainly, for the efforts that we are undertaking, I would certainly hope that they do that promptly in order to make sure that credit continues to flow to the economy, particularly the SMEs that are vulnerable in the present circumstances. Over the medium term, the increase in inflation will be supported by our monetary policy measures and the recovery in euro area growth dynamics. Learn more about how we use cookies. On the basis of the sharp decline in current and futures prices for oil, headline inflation is likely to decline considerably further over the coming months. So the best thing to say is that there will be a rebound.

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All the benefits of Premium Digital plus: Convenient access for groups of users Integration with third party platforms and CRM systems Usage based pricing and volume discounts for multiple users Subscription management tools and usage reporting SAML-based single sign on SSO Dedicated account and customer success teams. We are always working to improve this website for our users. What does it take to go lower than Sign in. In line with our mandate, the Governing Council is determined to continue to support households and firms in the face of the current economic disruption and heightened uncertainty, in order to safeguard medium-term price stability. Accordingly, we decided on a comprehensive package of monetary policy measures. Business Leaders.
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This applies first and foremost to our role in ensuring that our monetary policy is transmitted to all parts of the economy and to all jurisdictions in the pursuit of our price stability mandate. The second point is, by not cutting rates today it makes the ECB look a little out-of-step with the Fed and the Bank of England. Can the euro zone avoid a recession this year? Second, the strategy review is clearly deferred for the moment and we have in particular decided to postpone by a matter of six weeks the first next big meeting that we had in our deliberations. That takes me to the second part of your question.
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I believe that from the European Central Bank's viewpoint we are expecting and anticipating that this response will be ambitious and collective, and we are doing our part using the tools that we have, which we believe will be best targeted to the risks that we see likely to develop in the near future. Learn more about how we use cookies I understand and I accept the use of cookies I do not accept the use of cookies. At the same time, the Governing Council urges further strong and timely efforts to prepare and support the recovery. All we know for sure is that risks are definitely tilted to the downside; that's for sure. Now, as to markets, first of all, it takes a little bit of time, generally, for decisions to be analysed, digested and appreciated.
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President Lagarde: I would, first of all, like to indicate to you that we very much operated in the same setting at the Governing Council of the ECB. We are seeing a rapid evolution of the economic effects of the necessary containment measures in our area. I think I've dealt with your two questions. Vice-President de Guindos is with us online, we have been operating in split teams and therefore we do not see each other, we do not contact each other, and he is with us on the phone. So it will be accumulated over two months, but it will be as granular as the APP.
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These operations will support bank lending to those affected most by the spread of the coronavirus, in particular small and medium-sized enterprises. However, the medium-term implications of the coronavirus pandemic for inflation are surrounded by high uncertainty, given that downward pressures linked to weaker demand may be partially offset by upward pressures related to supply disruptions. I have one question concerning bank lending. Learn more about how we use cookies I understand and I accept the use of cookies I do not accept the use of cookies. Secondly, just to go back to a point that was already raised on issuer limits, do you need to raise the self-imposed issuer limits on the QE programme? Secondly, you said today's decision was unanimous, but was a case made for a more expansionary package? About BIS.
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Ecb press conference lagarde:

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