European Central Bank Governor "Early Impact on Economic Activity" New Coronavirus March 13 3:07
At a press conference, European Central Bank Governor Lagarde said on Friday that the spread of the new coronavirus "has a temporary impact on economic activity," he said.
He said that "coordinated fiscal policy is essential to support companies and workers," he argued that monetary policy and government measures need to be aligned.
He foresaw the interest rate cuts that were the focus, and explained that he decided to expand the scope of quantitative easing and strengthen financing by "unanimously determining the most effective and targeted content."
On the other hand, he said that the United States had announced measures to suspend entry from Europe, saying "the EU will not comment on decisions of governments other than the European Union."