“A pan-European policy response is needed to help the hardest-hit countries in the coronavirus crisis,” European Central Bank (ECB) Governing Council member Klaas Knot said on Tuesday. Key takeaways “Any bankruptcy of a solvent, but temporarily illiquid firm, bank or even government is a waste and needs to be avoided if possible.” “Monetary policy will likely need to continue to play an important role in the recovery phase.” “ECB policy is directed at maintaining favourable financing conditions for households, firms and governments, to mitigate any amplification.” “Coronavirus may speed up deglobalisation.” “Central banks within their mandates stand ready to play their part in mitigating the adverse economic consequences of this global crisis.” Market reaction The EUR/USD pair erased its daily losses and turned flat on the day near the 1.0860. However, this rebound seems to be caused by a fresh USD selling-wave rather than the ECB commentary. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Canada CPI Preview: No bearing on the loonie – TDS FX Street 3 years "A pan-European policy response is needed to help the hardest-hit countries in the coronavirus crisis," European Central Bank (ECB) Governing Council member Klaas Knot said on Tuesday. Key takeaways "Any bankruptcy of a solvent, but temporarily illiquid firm, bank or even government is a waste and needs to be avoided if possible." "Monetary policy will likely need to continue to play an important role in the recovery phase." "ECB policy is directed at maintaining favourable financing conditions for households, firms and governments, to mitigate any amplification." "Coronavirus may speed up deglobalisation." "Central banks within their mandates stand ready to play… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
