FXStreet reports that according to Louis Boisset from BNP Paribas, the ECB has taken action and seems ready to play a greater role if needed to defend the Eurozone economy during this crisis.

“The central bank lowered its projections, notably for 2020, with eurozone GDP growth now expected to 0.8%, down from its previous forecast of 1.1% in December 2019.”

“President Lagarde insisted that the ECB would use all of the flexibility available through its securities purchasing programme.” 

“Christine Lagarde has called on the eurozone member states to act in a co-ordinated and ambitious manner.”

“Avoiding an economic recession will rely on public policy interventions and fiscal policy actions in particular.”