In a speech yesterday, President of the ECB, Christine Lagarde, said that the Bank are ready to take action to aid the economy. She said, “We stand ready to address the situation as it develops, and to calibrate and recalibrate what should be calibrated or recalibrated as needed.”
This suggests that she could cut interest rates, target inflation or boost the recovery fund in the near future.
Industrial production figures for Germany came in this morning, which unexpectedly fell month-on-month in August. This was the first fall since April.
