⁍ Rising COVID-19 cases and government measures to contain the pandemic have led to a ‘clear deterioration’ in the euro zone’s near-term economic outlook.
⁍ New staff macroeconomic projections in December will allow the ECB to make a thorough assessment of how it should recalibrate its policy response.
– European Central Bank President Christine Lagarde said on Thursday that the euro zone’s economy is in a “clear deterioration” as a result of the H1N1 virus and government efforts to contain it, Reuters reports. She said that while stimulus measures taken by the ECB since March are helping to underpin economic activity, risks are “clearly” tilted to the downside and new staff macroeconomic projections in December will allow the bank to make a thorough assessment of how it should recalibrate its policy response.
Source: https://www.reuters.com/article/ecb-policy-health-coronavirus/ecbs-lagarde-says-covid-19-clearly-worsening-near-term-economic-outlook-idUSL8N2HK79Q