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Policymakers will carefully scrutinize the incoming economic data ahead of the next policy session to ensure that the effect of the coronavirus containment measures are not repeatedly considered in the backdrop of highly uncertain outlook, European Central Bank Executive Board member Yves Mersch said Monday.
"Looking ahead, in the current environment of elevated uncertainty the ECB Governing Council will assess incoming information very carefully, including developments in the exchange rate, while ensuring that this incoming information, such as information on containment measures which is already included in our baseline, is only accounted for once in our assessment," Mersch said. He also said that Eurozone economic recovery remains incomplete and are prone to setbacks. The policymaker asserted that the Governing Council continues to stand ready to adjust all of its instruments, as appropriate, to bring inflation back to target.
