5/18/2021, 4:33 PM (Source: TeleTrader)
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Lagarde: ECB committed to protecting economy

European Central Bank (ECB) President Christine Lagarde stated on Tuesday that the bank plans to stand by its commitment to protecting and supporting the economy of the Eurozone.

Lagarde stated it was imperative that "monetary and fiscal support is not withdrawn too quickly," adding that the methods and tools the ECB has at its disposal to help with recovery should suffice, but noted that "new items will be identified in the future if needed." Additionally, she warned that the impact of the coronavirus pandemic is still ongoing, saying that "the pandemic is not over."

Previously, the ECB stated that it won't be adjusting its policy to respond to higher inflation rates, while the bank's Chief Economist echoed Lagarde's comments on the pandemic saying that the road to recovery will be long.

Baha Breaking News (BBN) / OL