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3/4, 9:15 AM (Source: TeleTrader)
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ECB must respond to virus with budgetary measures-Le Maire

French Minister of the Economy and Finance Bruno Le Maire stated on Wednesday that the European Central Bank (ECB) should be prepared to utilize budgetary measures to counter the novel coronavirus' (COVID-19) negative economic consequences and stimulate growth.

Speaking in an interview with French media outlet BFM Business, he emphasized that "best weapon today is not monetary policy" as ECB's interest "rates are already very low."

Regarding the economic situation in his country, Le Maire underlined that "the main thing is that French economic activity can restart as quickly as possible," which was the reason why he is keeping close contact with business leaders in France. However, no countrywide stimulus plan is being discussed currently, he clarified.

Breaking the News / MS