ECB expected to keep rates unchanged – UOB

Economist at UOB Group Lee Sue Ann does not see the ECB modifying its monetary policy at this week’s event.

Key Quotes

“At its June meeting, the ECB decided to add a further EUR600bn to its EUR750bn COVID-19 rescue plan, bringing the total stimulus package to an astonishing EUR1.5tn.”

“Whilst we are not excluding the possibility of further monetary stimulus down the road, the latest measures announced by the ECB should dent any talks or concerns (for now) about whether or not the ECB is willing to play its role of lender of last resort for the Eurozone.”