Of note from ECB Lane Blog "While this major....>

ECB: Of note from ECB Lane Blog "While this major shock is hitting us at high

speed, our baseline scenario is that it will be ultimately temporary in

duration. Accordingly, we concluded that an easing of the monetary stance

through the additional asset purchases and the considerable support for credit

supply through the revised TLTRO programme is the more appropriate response.

However, it should also be clear that, although the deposit facility rate (the

main short-term policy rate) was maintained in yesterday's decision at its

current value of minus 50 basis points, the Governing Council retains the option

of future cuts in the policy rate, if warranted by a tightening in financial

conditions or a threat to our medium-term inflation aim."