Ahead of the ECB: Responding to coronavirus

Ahead of the much-anticipated European Central Bank policy meeting on 12 March, Panicos Demetriades, former member of the ECB governing council and governor of the Central Bank of Cyprus, and Alastair Ryan, research analyst at Bank of America Merrill Lynch, join Danae Kyriakopoulou, chief economist and director of research at OMFIF, to talk about the economic impact of coronavirus and expectations for the ECB’s response to the outbreak.

They discuss banks’ preparedness to economic shocks, the potential impact of a rate cut on bank profitability, and the range of measures at the ECB’s disposal, including expanding quantitative easing and making use of its expanded supervisory role through supervisory forbearance. Finally, they explore the need for fiscal policy, and options for optimising the fiscal-monetary policy mix to respond to economic shocks.

Further reading:

ECB should turn to supervisory forbearance

Time to reset euro policy mix

First big test for Lagarde

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