ECB's Lagarde sees receding growth risk beyond short term
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ECB's Lagarde sees receding growth risk beyond short term

Global Economy

Reuters
08 April, 2021, 03:55 pm
Last modified: 08 April, 2021, 03:56 pm

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ECB's Lagarde sees receding growth risk beyond short term

“Overall, the risks surrounding the euro area growth outlook have become more balanced, although downside risks associated with the pandemic remain in the near term,” Lagarde said

Reuters
08 April, 2021, 03:55 pm
Last modified: 08 April, 2021, 03:56 pm
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses a news conference on the outcome of the meeting of the Governing Council in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses a news conference on the outcome of the meeting of the Governing Council in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski

The coronavirus pandemic will weigh on euro zone growth over the coming months but longer term risks are receding and growth will pick up once lockdown measures can be lifted, European Central Bank President Christine Lagarde said on Thursday.

"Overall, the risks surrounding the euro area growth outlook have become more balanced, although downside risks associated with the pandemic remain in the near term," Lagarde said in a statement that echoes the bank's policy stance after its March meeting.

Repeating the bank's standing guidance, Lagarde said that the 1.85 trillion euros set aside in a Pandemic Emergency Purchase Programme may not have to be spent in full but the ECB also reserved the right to increase this quota, if market conditions warrant.

Top News / World+Biz

European Central Bank (ECB) / ECB President Christine Lagarde

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