The Belgian, Peter Praet, member of the Executive Board of the European Central Bank (ECB), called for calm. This came after the surprise victory of the Republican candidate, Donald Trump in the American presidential election, which caused ripples in global markets.
“I think that it falls to us to remain calm, certainly calmer than the markets,” stated the Chief Economist of the ECB, during a conference at the National Bank of Belgium. These comments were confirmed by a spokesperson from the ECB.
The main global market locations opened down today but they were able to cushion their fall, which occurred when the victory of the United States Republican candidate was announced.
“I believe that all communication linked to monetary policy has not changed nor will it do so,” Mr Praet stated. He said, “It is too early to react to such events as this.”
He added, “As usual, we are monitoring the situation closely.”