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European Central Bank (ECB) Vice President Luis de Guindos said in a newspaper interview on Wednesday, the central bank is ready to recalibrate unconventional measures and plans against coronavirus pandemic.

Additional quotes

“Main antidote to pandemic will not be monetary policy but rather government reforms, fiscal policies.”

“Worried about two-speed recovery in Europe after coronavirus pandemic.”

Market reaction

Despite the ECB policymakers noting that the central bank stands ready to do whatever it takes to boost the economy; the shared currency remains unimpressed.

At the press time, EUR/USD drops 0.10% to prints fresh session lows at 1.1216.