ECB focuses on strategy review
The ECB Governing Council formally launched a comprehensive monetary policy review that shall be completed by end of 2020.
- The ECB Governing Council formally launched a comprehensive monetary policy review that shall be completed by end of 2020.
- The review will not only be confined to issues like the quantitative definition of price stability but also covers topics like financial stability, employment and environmental sustainability.
- The ECB acknowledges reduced downside risks mainly because of the US/China Phase 1 deal and looks for a stabilization of near term growth dynamics amid a moderate increase in underlying inflation.
- As widely expected, the monetary policy stance was unchanged and apparently no topic of major discussion at today’s meeting. We continue to expect the ECB to stay on hold for the time being.
Download the full publication below
ECB FOCUSES ON
CHINA’S RECOVERY CONTINUED BUT A BIT SOFTER THAN EXPECTED
China's economic recovery continued in Q3 2020, although a bit softer than expected. Real GDP growth rose to 4.9% yoy, slightly below the Reuters consensus expectation of 5.2% yoy, but still a substantial upturn from the 3.2% yoy in Q2. On a quarterly base, growth dynamics softened to 2.7% qoq, after 11.7% qoq and -10% qoq in the two previous quarters.
Citywire video-interview with Peter Marber
Watch Peter Marber, fund manager of this global, non-directional, long/short approach to Emerging Markets debt, in a video-interview by Citywire.
COVID-19 FACTS & FIGURES
According to the IMF’s Managing Director, strong international cooperation on coronavirus vaccine could speed up the world economic recovery and add $9 trillion to global income by 2025. A WHO trial found that Remdesivir, Hydroxychloroquine, Lopinavir and Interferon have little or no effect on hospitalized Covid-19 patients. Gilead Sciences has questioned the findings of the WHO study saying data appeared inconsistent.