Additional comments are crossing the wires from the European Central Bank (ECB) Governing Council member Robert Holzman, as he now said that there should not be deflation across the Eurozone.
“Wanted other points to be included in the ECB discussion.”
“Argued perhaps decision on PEPP should have been deferred, until autumn, (not that programme should have lasted longer) but colleagues disagreed.”
“Agreed with decision to increase PEPP by EUR600 billion.”
“Deflation in sense of negative inflation in some countries for months is very likely.”
- ECB’s Lane: PEPP increase is proportionate response to the outlook
- EUR/USD off highs near 1.1380, looks to US NFP