March 3, 2020 / 1:30 PM / a month ago

No need for imminent ECB action on coronavirus: ECB's Kazimir

FILE PHOTO: Slovakia's former Finance Minister Peter Kazimir attends the Asian Financial Forum in Hong Kong, China January 15, 2018. REUTERS/Bobby Yip

FRANKFURT (Reuters) - There is no need for any imminent action from the European Central Bank to combat the impact of the coronavirus outbreak, but global coordination to shield the world economy is a welcome step, ECB policymaker Peter Kazimir said on Tuesday.

“There’s no imminent need to act, but we’re ready to step in when and where necessary,” Kazimir, Slovakia’s central bank chief, said on Twitter. “G7 coordination, aimed to shield the global economy, is much appreciated.”

Kazimir added that panic and overreaction could be costly but it was important for the ECB to remain alert.

Reporting by Balazs Koranyi; Editing by Alex Richardson

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