ECB: Fiscal plans remove objections against easing – Rabobank

At an emergency meeting, the ECB announced additional monetary stimulus, just one week after the Council unveiled its previous easing package, analysts at Rabobank inform.

Key quotes

“The ECB has announced another EUR 750bn in asset purchases, in a specific envelope it calls the ‘pandemic emergency purchase programme’.”

“The fiscal plans announced by Eurozone governments removed the ECB’s objections against further easing.”

“The flipside of the fiscal stimulus is a rise in sovereign yields across the board, but mostly so in peripheral Europe. This is negatively affecting financial conditions in Eurozone markets.”