ECB’s Visco: Impact of coronavirus on Italian economy in 2020 will be high
In an interview with an Italian daily, the European Central Bank (ECB) Governing Council member and Italian central bank Head Ignazio Visco said that the impact of coronavirus on the Italian economy in 2020 will be high, adopted policies will limit its length and strength.
Greater coordination among the European countries will allow nations to come out of coronavirus crisis all together and with lower costs, he said.
Additional comments
ECB will do whatever it takes to ensure good functioning of financial markets and monetary policy in all of euro zone.
Believes adopted measures are sufficient, but ECB ready to do more if necessary.
ECB ready to increase size of bond purchase programme, change its composition and length in time.
When contagion of coronavirus will end, expansive monetary and budgetary policies must be kept.
Important to rapidly define an instrument that will allow collective refinancing of a "reconstruction" phase in Europe after coronavirus emergency, when asked about corona bond.
Measures adopted by govt and liquidity available allow Italian banks to support real economy in this difficult phase.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
