The President of the European Central Bank, Christine Lagarde, kicked off the ECB’s annual symposium virtually, during which leading central bankers discussed why the current monetary policy is not working the way it used to.
Therefore, Lagarde said the ECB will focus on increasing urgent purchases of bonds and cheap loans to banks before drafting a new stimulus package in December.
To add to that, she said that inflation in the 19-country bloc is likely to remain negative for longer than expected, especially since another economic lockdown is planned.
The Central Bank’s job right now is to keep borrowing costs low enough for households, firms and governments, and to support the banking sector to stave off a credit crunch.
Lagarde also mentioned the growing investor optimism over the announced COVID-19 vaccine from Pfizer, and said that even though it is 90% effective, there is not enough reason yet to relax. Nonetheless, Spain and Italy will be the first to receive the vaccine, probably in January 2021. In particular, Italy will receive 3.4 million vaccinations in January.
But despite her warning, the European stock market continued to grow unceasingly.
The gains recorded were much better than expected, with around 68% of STOXX 600 companies reporting figures that exceed preliminary data.
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.