European Central Bank President Expectations for Vaccine Development Suggests Additional Monetary Easing November 12, 4:53
The European Central Bank's governor, Christine Lagarde, said on the 11th that the development of a vaccine for the new coronavirus is expected to proceed, but even if it is developed, the spread of infection and restrictions on economic activities will be repeated until it spreads. He suggested the possibility of implementing additional monetary easing centered on urgent asset purchases to support the situation.
The President of the European Central Bank, Christine Lagarde, who is responsible for monetary policy in 19 euro area countries such as Germany and France, gave a speech on the 11th.
In this, President Lagarde said in connection with the announcement of the provisional result that the new coronavirus vaccine under development by American pharmaceutical giant Pfizer has "more than 90% preventive effect", "the latest vaccine The news is encouraging, "he said.
On the other hand, he said, "Until widespread immunity is obtained, the spread of infection and restrictions on economic activities will be repeated." Even if a vaccine is developed, it is necessary to continue to support the economy with monetary policy until it becomes widespread. I emphasized the recognition that there is.
He added, "We are considering all options, but urgent asset purchases have already been shown to be effective and will continue to be the main means for readjustment of monetary policy," he said in November. The board suggested the possibility of expanding the program to purchase a wide range of assets, which was introduced as an emergency measure in March.