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2021/01/15 / Erste Group Research

How will ECB assess situation?

The ECB Governing Council meets next week. To be sure, the Governing Council will again point to the high level of uncertainty and the downside risks to the economy. But a general change in assessments is unlikely.

Only a few days into 2021, the resignation of two female ministers belonging to the small party Italia Viva triggered the first government crisis in Italy. This was caused by differing views on the content of the reconstruction plan and the question of whether or not to take advantage of additional loans from the European Stability Mechanism.

Sentiment data from Eurozone purchasing managers will be the first important data point in 2021 from an economic perspective next week.

Last night, President-elect Biden announced plans for his first stimulus package. The proposed size is USD 1.9tn, more than double the USD 900bn package agreed by the US Congress at the end of last year.

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General information

AuthorErste Group Research
Date2021/01/15
Languageen
Product nameWeek ahead
Topic in focusMacro/ Fixed income
Economy in focusEurozone, United States
Currency in focusEuro, US Dollar
Sector in focus-
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