11/30/2020, 11:50 AM (Source: TeleTrader)
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ECB's Lagarde: Pandemic accelerated ongoing changes

President of the European Central Bank, Christine Lagarde, said on Monday that the coronavirus pandemic accelerated changes that were already happening, particularly in the spheres of digitalization and green technologies.

Compared to the previous crises, Lagarde noted that banks hadn't amplified negative consequences thanks to reforms made over the last decade. However, she noted that the ECB's monetary policy could not be as targeted as fiscal measures, which are "critically important" in providing support to the services sector.

Lagarde spoke at the Thought Leadership Forum organized by the European Policy Centre about the ECB's role in the current crisis.

Breaking the News / ND