March 23, 2020 / 6:53 AM / in 8 days

ECB ready to do more for coronavirus emergency if needed, Visco tells paper

ROME, March 23 (Reuters) - The measures adopted by the European Central Bank in response to the coronavirus emergency are sufficient and effective but the bank is ready to do more if necessary, a member of its Governing Council, Ignazio Visco, said on Monday.

“The set of measures adopted has been effective in relieving tensions. We believe today that these are sufficient, but we are ready to do more if needed,” Visco, who is also Governor of the Bank of Italy, told newspaper La Stampa in an interview.

He added that the ECB was ready to increase the size of the emergency bond purchase program (PEPP) announced last week as well as changing its composition and length in time. (Reporting by Giulia Segreti; Editing by Muralikumar Anantharaman)

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