The macroeconomic impact of the pandemic and the policy response
(WorldNews Finland)

THE ECB BLOG The macroeconomic impact of the pandemic and the policy response Blog post by Philip R. Lane, Member of the Executive Board of the ECB 4 August 2020 My aims in this blog post are twofold. First, I will compare Eurostat`s flash estimate of Q2 GDP (published last Friday) to the June Eurosystem staff projections.[1] Second, I will discuss the role of the pandemic emergency purchase programme (PEPP) in supporting the euro area economy and protecting medium-term price stability. Second quarter GDP: the maximum impact of the pandemic It has long been clear that the maximum impact of the pandemic on economic activity would fall in the second quarter. While the economy had already taken...