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Europe's Central Banker: Recovery 'Risks Losing Momentum'

The court sought the law ministry’s response after going through a statement by the World Health Organisation, which has declared virginity testing as unscientific, medically unnecessary and unreliable.

The court sought the law ministry’s response after going through a statement by the World Health Organisation, which has declared virginity testing as unscientific, medically unnecessary and unreliable.

The head of the European Central Bank says that the economic recovery risks losing momentum due to the second wave of coronavirus infections and that the chief monetary authority for the euro countries could add more stimulus if that becomes necessary.

FRANKFURT, Germany: The head of the European Central Bank says that the economic recovery risks losing momentum due to the second wave of coronavirus infections and that the chief monetary authority for the euro countries could add more stimulus if that becomes necessary.

Christine Lagarde was quoted as saying in an interview with the French newspaper Le Monde that the second wave of the pandemic in Europe, notably in France, and the resulting new restrictions are adding to the uncertainty and weighing on the recovery.

Since the rebound we saw over the summer, the recovery has been uneven, uncertain and incomplete and now risks losing momentum, she said in the interview published Monday in English on the ECB’s website.

Lagarde said that the options in our toolbox have not been exhausted. If more has to be done, we will do more.

The ECB is already supporting the economy with a pandemic emergency program of bond purchases that are pumping 1.35 trillion euros ($1.58 trillion) in newly created money into the economy. Analysts think the bank may eventually add more stimulus due to weak inflation and slowing growth from the upsurge in infections, along with any new restrictions on travel and activity that may be imposed by governments to slow the spread.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor


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