ECB Restricts All Non-Essential Staff Travel Amid Coronavirus

(Bloomberg) -- The European Central Bank has restricted all non-essential travel by members of its Executive Board and staff and canceled conferences and visits amid the coronavirus outbreak in Europe.

The action comes a day after the International Monetary Fund and World Bank said they would use a “virtual format” to convene their spring meetings scheduled for mid-April in Washington on concern about the spread of the disease. Numerous companies and institutions have been forced to address health safety risks, and the ECB faces a particular challenge as its decision makers come from 19 different countries.

“With today's measures, we are taking steps to ensure the safety and well-being of our staff while maintaining a fully operational central bank and banking supervision function,” President Christine Lagarde said. “The measures build on existing internal guidelines and constant communication with our staff, giving them advice about the virus and asking those who had been to affected areas to work from home for two weeks.”

All travel by Executive Board members and employees judged to be non-essential is restricted until April 20, when the situation will be re-assessed. Visits to the central bank and its public visitor center are suspended for the same period. The ECB is also postponing or canceling conferences hosted at the central bank, and its ECB Listens event in Brussels will be held on a new date.

The Governing Council held a meeting on operational continuity on Tuesday, according to people familiar with the matter. Policy makers didn't discuss monetary policy, they said on condition of anonymity. An ECB spokesman declined to comment on that meeting.

To contact the reporter on this story: Carolynn Look in Frankfurt at clook4@bloomberg.net

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net

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