ECB confirms readiness of taking appropriate measures to counter Coronavirus

The European Central Bank confirmed today that it is ready to take appropriate and targeted measures to combat the impact of the outbreak of the Corona virus, as it joined its counterparts in the United States and Japan in a sign of potential political action to meet the economic challenges of the Corona virus.

"We are ready to take appropriate and targeted measures as appropriate and commensurate with the basic risks as the outbreak of the Corona virus is a rapidly evolving situation which creates risks for economic expectations and the work of financial markets," European Central Bank President Christine Lagarde said in a statement today.

Lagarde’s comments coincide with those of Federal Reserve Chairman Jerome Powell and Bank of Japan Governor Haruhiko Kuroda, who signaled their willingness to act which markets took as real security to ease monetary policy.