ECB Chief Economist Lane says PEPP and the easing of conditions under the TLTRO programme have been the two cornerstones of our monetary policy response
- Says PEPP and TLTRP design and calibration are directly linked to the evolution of the pandemic and its impact on the monetary transmission mechanism and the economic outlook
- It is essential that the macroeconomic recovery is not derailed by a premature steepening of the yield curve
- Full remarks
Analysis details (12:04)
- Remarks gives an overview of the tools used, talking up the benefits of PEPP and TLTRO - two tools the market assumes that the central bank will add to in December
- Elsewhere, there doesn't appear to be any specific guide as to how policy might be tweaked in December
- No reference to the currency, which has been rising weekly (and Lane warned on its level in early Sept when it was around 1.20)
26 Nov 2020 - 12:01- - Source: ECB
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