ECB's Villeroy: ECB toolbox needs flexibility for times of stress

In an interview with Bloomberg on Friday, European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau said that the ECB's toolbox needs flexibility for times of stress, as reported by Reuters.

Villeroy further explained that there can be various means to keep the Pandemic Emergency Purchase Program's (PEPP) virtual flexibility as a contingent option and noted that they need to study them until December.

Market reaction

These comments don't seem to be having a noticeable impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was virtually unchanged on a daily basis at 1.1594.