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ECB is ready to act “as necessary” against the backdrop of coronavirus

UNITED STATES (OBSERVATORY NEWS) — A global outbreak of coronavirus could harm growth, and the European Central Bank is ready to adjust all its instruments as needed, ECB Vice President Luis de Guindos said on Monday.

“We remain vigilant and will closely monitor all incoming data,” de Guindos on the consequences of the outbreak.

“Our forecast of rates determines the direction of our monetary policy,” said de Guindos. “In any case, the board of governors is ready to adjust all its instruments as necessary to ensure a steady approach to inflation target.”

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