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6/30, 3:54 PM (Source: TeleTrader)
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Recovery slow despite positive indicators - ECB's Schnabel

Specific short-term indicators are pointing to recovery, but that process will probably be long, not as quick as some had hoped, European Central Bank's Executive Board Member Isabel Schnabel (pictured) said on Tuesday.

Schnabel reiterated the pandemic emergency purchase program (PEPP) doesn't have to be used to its full extent and that the ECB is ready to reassess and adjust it according to the way the economic situation unfolds.

A similar point was made previous week by another member of the ECB's Executive Board, Yves Mersch, who said that PEPP was designed to be flexible and meant as a temporary solution to the crisis.

Breaking the News / BU