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- ECB's Executive Board member Schnabel: Monetary policy needs to act in more targeted and flexible way to reduce risks of fragmentation
ECB's Executive Board member Schnabel: Monetary policy needs to act in more targeted and flexible way to reduce risks of fragmentation
- Evidence is increasingly pointing towards protracted impact of crisis on both demand and supply conditions in euro area and beyond
- Flexibility is key element of PEPP and will be maintained throughout its lifetime
- We see clear evidence of the success of allocating purchases flexibly across market segments
- The European recovery fund proposal is promising step in right direction
- Surveys point to significant take-up for TLTRO III, in order of € 1.4 trillion
- Given high uncertainty regarding second-round effects, our decision appears to be appropriate and proportional course of action
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