Further comments crossing the wires from the European Central Bank (ECB) Executive Board Member Fabio Panetta’s interview with the Portuguese newspaper Expresso.
Panetta said: “We should expect the Governing Council to reassess the macroeconomic outlook.”
And also recalibrate its measures accordingly.
Outlook for inflation has clearly deteriorated.
It is clear that our stimulus so far has not been sufficient.
In spring, we reacted quickly and we should do so again.
Need to eliminate doubts about our determination to preserve price stability.
We have firepower, we have instruments that we can calibrate.