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“Fiscal and monetary policy will remain crucial,” ECB executive board member, Isabel Schnabel said in an interview with LETA, adding that it “must not be withdrawn prematurely.”

Additional quotes

“We will ensure that there is no unwarranted tightening of financing conditions.”

“ECB is monitoring market developments closely.”

“Euro area much better able to deal with lockdowns now.”

“Second lockdown has less severe consequences than the first one.”

Market reaction

EUR/USD is closing in on the 1.2200 level, fresh monthly tops, mainly driven by the broad-based US dollar weakness. The spot is up 0.14% so far, hovering around 1.2180, at the press time.

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