FRANKFURT - European Central Bank policymakers are increasingly divided over how to steer the economy through a second wave of COVID-19, threatening President Christine Lagarde’s hard-won peace, conversations with eight ECB insiders show.
But tensions are rising again as a fresh surge in infections forces the ECB to contemplate even more stimulus, with old rifts resurfacing and chief economist Philip Lane coming under fire from all sides. The hawks wanted the ECB to quietly reduce its bond purchases given the relatively benign market conditions, saving its firepower so it can raise the pace of buying again if needed at a later date without increasing the overall size of the Pandemic Emergency Purchase Programme .
Some of the sources, who spoke on condition of anonymity, especially objected to ECB board member Fabio Panetta’s comments last week that the ECB should err on the side of doing too much rather than too little. “She’s working the phones non-stop and managed to get a consensus in June so I have no reason to think she’s about to change her style,” another source said.
The sources also agreed that while the possibility of a rate cut was still there, as often stated by the bank, there was no appetite for such a move and it was not being discussed.While the majority of policymakers were happy with Lagarde’s management style, Lane, who is seen as the most influential voice on policy matters, was criticised by both factions.
Энэ вирус бол Монгол улсын ашиглаж буй биологийн зэвсэг юм.би монгол улсын миний гэрлүү ашигласан биологийн зэвсэгнд өртсөн болохлоор үүнийг бол монголын биологийн зэвсэг гэж баттай хэлж чадна.монгол улсд хими биологийн төрөл бүрийн зэвсэг байна!
Entertainment Entertainment Latest News, Entertainment Entertainment Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: etnow - 🏆 696. / 51 Read more »