Lagarde Says ECB Ready To Take Targeted Steps Amid Coronavirus Outbreak

European Central Bank President Christine Lagarde said the central bank stands ready to take targeted measures to combat risks to the economy from the coronavirus outbreak.

The banker noted that the coronavirus outbreak creates risks for the economic outlook and the functioning of financial markets. "The ECB is closely monitoring developments and their implications for the economy, medium-term inflation and the transmission of our monetary policy," Lagarde said in a statement.

"We stand ready to take appropriate and targeted measures, as necessary and commensurate with the underlying risks," she added.

On Monday, Bank of Japan Chief Haruhiko Kuroda also released a statement, ensuring ample liquidity and stability in financial markets through appropriate market operations and asset purchases.

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