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Lagarde: Fiscal accommodation needs to continue at the national and regional level

ECB
  • Q: Do euro area countries need to do more fiscal stimulus? Do you need to describe your reaction function more clearly in regard to favourable financing conditions? i.e. outline how exactly you would react under different circumstances.
  • A: Both from a monetary and fiscal point of view it is necessary to remain accommodative given the uncertainty of the current situation. Fiscal accommodation needs to continue at the national and regional level. Lagarde reiterates previous factors that determine the favourable financing conditions 'compass'. This will be assessed on a regular basis.

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