ECB: We stand ready to take appropriate and targeted measures

The European Central Bank says "we stand ready to take appropriate and targeted measures, as necessary and commensurate with the underlying risks."

Statement by the President of the ECB

The coronavirus outbreak is a fast developing situation, which creates risks for the economic outlook and the functioning of financial markets. The ECB is closely monitoring developments and their implications for the economy, medium-term inflation and the transmission of our monetary policy. We stand ready to take appropriate and targeted measures, as necessary and commensurate with the underlying risks.

More to come...