ECB could hold extraordinary virus meeting if needed, Vasiliauskas says


© Reuters. Specialists work on a crane in front of the European () in Frankfurt

BRUSSELS (Reuters) – The European Central does not expect to take any action on at its next governing council meeting, on March 12, but it could call an emergency meeting, Lithuania’s central bank governor, Vitas Vasiliauskas, said on Friday.

At this point, the ECB has a “wait and see approach”, Vasiliauskas said at a news conference in Brussels. But “there is no problem for the governing council to meet in some extraordinary way, not to wait until the next monetary policy meeting.”

Asked whether the ECB was waiting for decisions by other central banks before acting on the coronavirus outbreak, he said, “We do not live in an autonomous world. We cooperate with other central banks. We exchange information and we coordinate actions.”

Article continues below Advertisement...

The ECB is monitoring the virus’s effect on supply chains and might need to examine its possible impact on consumption if “demand shocks” emerged, Vasiliauskas said.

Separately, Vasiliauskas said the current policy review the ECB is carrying out would probably be concluded in December. He said he did not expect “radical changes” in the way the bank works.

Disclaimer: Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market , meaning prices are indicative and not appropriate for trading purposes. Therefore Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Please enter your comment!
Please enter your name here