“We will not return to the situation before COVID-19 for a couple of years” said on Friday the member of the Governing Council of the European Central Bank (ECB), Ignazio Visco. He added that fiscal and monetary policies must remain expansionary.
The official indicated that it is necessary to avoid removing the stimuli soon.
With regard to economic data, he indicated that those of Italy the third quarter are being better than expected. “Italy also has structural problems that now is the time to address, including making good use of European funds,” Visco said. With regard to the debt of that country, he indicated that it is sustainable, the problem being high interest payments.
Market reaction
The comments did not generate a reaction in the market. EUR / USD remains close to the day’s highs at the 1.1715 zone, showing little change in recent hours.
Credits: Forex Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
