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The European Central Bank (ECB) Governing Council member – Vitas Vasiliauskas was out with some comments in the last hour and said that the central bank acted pre-emptively, the reaction was needed. Surprised by the extent of forecast revisions, Vasiliauskas added further.

Additional quotes:

   “¢   ECB has time up until September to agree on TLTRO details.
   “¢   New TLTROs will not include mortgage lending.