ECBs Klaas Knot speaking
ECBs Klaas Knot (Dutch central bank president) is on the wires saying:
- ground for Euro area coverage getting firmer and firmer
- high-frequency data showing services sector catching up
- downside risks will gradually fade
- there is still significant upside risk from pent up demand
- outlook is quite bright
- winding down emergency support would mean rotating to other ECB tools
- only talking about rotation to other unconventional support measures
- will still have APP (asset purchase program), negative rates
- wage growth likely to stay moderate
- no case for fundamentally different inflation outlook
The comments are positive for economic growth and recovery from the Dutch central banker
