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11/4/2020, 12:27 PM (Source: TeleTrader)
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New stimulus likely in December - ECB's De Cos

Governing Council member of the European Central Bank, Pablo Hernandez de Cos, stated on Wednesday that newly introduced limitations in order to contain the COVID-19 pandemic could slow down the economic recovery or even lead to a contraction in Spain and other European countries during the fourth quarter.

He added that it's highly likely that new stimulus measures will be implemented in December. Speaking to the parliament, De Cos stated that, because of the rising number of infections in Europe, "there was persistently high uncertainty over the strength of the recovery in the final months of the year."

"The widespread implementation of new measures to contain the health crisis could lead to a significant slowdown in the expansion of activity, and even to a contraction, at least in some countries or sectors in the fourth quarter," De Cos noted.

Baha Breaking News (BBN) / TF