Christine Lagarde, President of the European Central Bank, stated the necessity of continuing generous stimulus in order to revive the economy affected by the recession.
Lagarde mentioned in her statement that the Union's package known as the Next Generation EU fund could indeed support growth this year if implemented according to the original timeline. She continued that underlying price pressures are likely to remain weak due to weak demand, low wage pressures, and a strong euro. She emphasized that we have committed to maintaining favorable financing conditions necessary in the current environment, noting that the ECB will keep its ultra-loose monetary policy. Lagarde confirmed that the recovery of the European economy from the recession caused by the COVID-19 pandemic has been somewhat delayed, but it is expected to accelerate from the middle of the year.
