Posted on Nov 13, 2020 at 6:20 am
This Thursday all eyes were on Sintra. Or more exactly to the virtual version of the Central Banks Forum that the ECB organizes every year in the Portuguese city. For good reason: in a context disrupted by nine months of pandemic, which saw the major monetary institutes take exceptional measures to save their economies, three of the main central bankers of the world exchanged by video conference.
Christine Lagarde, President of the European Central Bank, Andrew Bailey, Governor of the Bank of England, and Jerome Powell, President of the US Federal Reserve wanted to be – reasonably – reassuring. Asked about the results of the American elections and the positive information on the progress of the vaccine, Christine Lagarde recognized a certain improvement. “We clearly see a little less uncertainty on several fronts”, she said while refusing to be too enthusiastic about the progress of vaccines. She recalled that the recovery would probably be unstable, and that it will be necessary to ” bridging the gap “ until it is durable.