ECB’s Mersch: Outlook has suddenly taken a turn for the worst
|The economic outlook has suddenly taken a turn for the worst, the European Central Bank (ECB) Executive Board member Yves Mersch said in a scheduled speech this Friday.
Mersch added: “it is our firm intention to play our role in the second wave of the coronavirus pandemic.”
Additional quotes
“The ECB is encouraging the fiscal authorities to spend more.”
“Nothing ruled out, nothing given on recalibration.”
“The ECB to discuss the flexibility of instruments in December.”
Market reaction
EUR/USD is attempting a bounce from daily lows of 1.1661, despite the policymaker firmly hinting at more easing in December. Upbeat German growth numbers could be playing a part in supporting the bounce, as the spot trades flat at 1.1676, as we write.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.