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More on Reinvestment Phase

ECB: Per an FT interview with ECB President Lagarde: "Ms Lagarde confirmed
analysts' expectations that the ECB is unlikely to announce fresh loosening
measures at its monetary policy meeting next week. "We have done so much that we
have quite a bit of time to assess [the incoming economic data] carefully," she
said. The EU's planned EUR750bn recovery fund to support those countries hardest
hit by the pandemic would be "a game changer", the ECB president said,
particularly if a large portion of it came in the form of grants rather than
loans. However, Ms Lagarde said that the fund may only be agreed by EU member
states after next week's summit. "I wouldn't put all my bets on July 18," she
said. "I would give it until the end of the month to make sure that we have a
favourable outcome.""
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |