“We won’t be back to the pre-COVID-19 situation for a couple of years,” the European Central Bank (ECB) Governing Council member Ignazio Visco said on Friday, adding that the fiscal and monetary policies, therefore, have to remain accommodative.
Additional comments
“Have to avoid too early withdrawal of the policy.”
“Seeing better Q3 Italian data than expected."
“Italy also has structural issues which it is now time to address including with putting European funds to good use.”
“Italy's debt is sustainable the issue is the high-interest payments.“
“I'm confident on the fiscal side, the big problem is the ability to grow, investments are needed in human and technology.”
Market reaction
EUR/USD is off the highs, back around 1.1700 despite the retreat in the US dollar across the board, as surging Eurozone virus cases keep a check on the upside attempts.
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