- ECB's executive board member Schabel: Significant uncertainty about future income prospects can be expected to prevail for some time
Market news
24 November 2020
ECB's executive board member Schabel: Significant uncertainty about future income prospects can be expected to prevail for some time
- Although recent news on effectiveness of vaccines provides light at the end of the tunnel, significant uncertainty about future income prospects can be expected to prevail for some time, also because the pace of the rollout of vaccines and their acceptance among the public remain uncertain
- Fiscal expansion is then indispensable in order to sustain demand and mitigate the long-term costs of the crisis
- More elastic use of the “medium-term” notion might be all the more conducive in an environment in which high degree of prevailing uncertainty is likely to considerably increase the lags with which policy is transmitted to the real economy
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