Lagarde Says 'Little Doubt' ECB Will Act in December

The transcript discusses the Governing Council's agreement on the need for recalibration in response to the pandemic. It highlights factors such as infection rates, containment measures, and fiscal responses that influence recalibration decisions. The importance of scenario planning and projections is emphasized, leading to the implementation of a recalibrated package to address the evolving circumstances.

What did the Governing Council agree upon regarding the approach to the pandemic?

• To wait and see how the situation develops

• To focus only on fiscal measures

• To recalibrate all instruments and dimensions

• To take no action at all

Which of the following is NOT a factor influencing recalibration?

• Infection rates

• Weather conditions

• Fiscal responses

• Incidence of the pandemic

What role do containment measures play in the recalibration process?

• They are one of the factors considered

• They are only considered if fiscal responses fail

• They are irrelevant to recalibration

• They are the sole focus of recalibration

How will the recalibration be structured according to the transcript?

• By following a fixed plan

• According to historical data only

• Based on random selection

• In response to projections and scenarios

What is the expectation regarding the implementation of the recalibrated package?

• It will likely not be needed

• Circumstances will likely require it

• It will be delayed indefinitely

• It will be implemented only if requested by the public