The European Central Bank on Thursday said it was prepared to “recalibrate” its monetary stimulus programs in December, recognizing that it faces an environment in which risks are “clearly tilted to the downside.”
While it’s possible that the world could look better in December, convincing the ECB that no further action is needed, that outcome is very much a long shot, he said. In the statement, the ECB said policy makers will “carefully assess the incoming information, including the dynamics of the pandemic, prospects for a rollout of vaccines and developments in the exchange rate,” the Governing Council said.
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