Reuters reports
The report says that the ECB is working on measures to provide liquidity to businesses hit by the economic fallout from the coronavirus, citing three sources familiar with discussions.
One of the possible measures is said to include a TLTRO directed at SMEs, who they say may be hit the hardest by the downturn. But the sources say that no decision is imminent as of yet as preparatory work would take time.
Another source also said that the ECB sees the economic issues caused by the virus outbreak is largely outside the scope of monetary policy, thus mainly requiring a fiscal response.
I think that last line is more relevant as it should just reaffirm expectations that the ECB won't be taking any action in the policy meeting later this month.
