The European Central Bank's actions so far to help cushion the economic fallout from the coronavirus pandemic shows it is ready to do more if needed, governing council member Gabriel Makhlouf has said.
Gabriel Makhlouf, the Governor of the Central Bank, expressed scepticism about the prospects of a sharp v-shaped recovery, expecting a more gradual rebound in economic activity.
The large impact on public finances around the world from fiscal supports was "absolutely necessary," he added.
"From the ECB's perspective, as our actions have shown, we stand ready to support the citizens and economies of Europe if events show that we need to do more," Mr Makhlouf wrote in a new blog on the Central Bank's website.
The Central Bank chief said the bank needs to explain its decisions, set out the context in which they are being made, and help the public understand why it is making them and what it is aiming to achieve.
"Good communication matters and during a crisis it matters more than ever. I believe this blog will help with that," he added.
He also said that this is an anxious and uncertain time for many people across the country and the world.
"Our focus has to be on supporting the public health response. But we also need to think about how we recover from the economic shock, and how the financial system supports the recovery, when it comes," he added.
