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Unclear if measures to tackle coronavirus sufficient: ECB's Weidmann to Bloomberg - Metro US

Unclear if measures to tackle coronavirus sufficient: ECB’s Weidmann to Bloomberg

29th Frankfurt European Banking Congress (EBC) takes place in Frankfurt

BERLIN (Reuters) – It is not yet possible to say whether measures designed to support the euro zone economy through the coronavirus pandemic will be sufficient, German Bundesbank head Jens Weidmann told Bloomberg in an interview, adding that expansionary monetary and fiscal policies would remain necessary for some time.

“It is not yet possible to say for sure whether the measures taken to date will be enough,” said Weidmann, also a policymaker at the European Central Bank.

“The decisive factors for economic developments will be the further course of the pandemic, the length of the lockdown and whether the measures taken successfully address liquidity and potential solvency problems facing firms and households,” he said in the interview published on Friday.

“An expansionary monetary and fiscal policy will in any case remain necessary for some time,” he added.

(Reporting by Thomas Escritt; Editing by Michelle Martin)

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