By Reuters Staff
1 Min Read
FILE PHOTO: European Central Bank President Christine Lagarde addresses European lawmakers during a plenary session at the European Parliament in Brussels, Belgium February 8, 2021. Olivier Matthys/Pool via REUTERS/File Photo
FRANKFURT (Reuters) - The coronavirus pandemic will weigh on euro zone growth over the coming months but longer term risks are receding and growth will pick up once lockdown measures can be lifted, European Central Bank President Christine Lagarde said on Thursday.
“Overall, the risks surrounding the euro area growth outlook have become more balanced, although downside risks associated with the pandemic remain in the near term,” Lagarde said in a statement that echoes the bank’s policy stance after its March meeting.
ECB’s Lagarde sees receding growth risk beyond short term
The coronavirus pandemic will weigh on euro zone growth over the coming months but longer term risks are receding and growth will pick up once lockdown measures can be lifted, European Central Bank President Christine Lagarde said on Thursday.
“Overall, the risks surrounding the euro area growth outlook have become more balanced, although downside risks associated with the pandemic remain in the near term,” Lagarde said in a statement that echoes the bank’s policy stance after its March meeting.
Repeating the bank’s standing guidance, Lagarde said that the 1.85 trillion euros set aside in a Pandemic Emergency Purchase Programme may not have to be spent in full but the ECB also reserved the right to increase this quota, if market conditions warrant.
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POOL/The Associated Press
The coronavirus pandemic will weigh on euro zone growth over the coming months but longer term risks are receding and growth will pick up once lockdown measures can be lifted, European Central Bank President Christine Lagarde said on Thursday.
“Overall, the risks surrounding the euro area growth outlook have become more balanced, although downside risks associated with the pandemic remain in the near term,” Lagarde said in a statement that echoes the bank’s policy stance after its March meeting.
SOURCE / ECONOMY
China leads in scenarios, mobile coverage
By GT staff reporters Published: Apr 08, 2021 08:13 PM
Residents who received red packets of digital RMB use the money in a store in Shenzhen, Guangdong Province, on October 14, 2020. Photo: Li Hao/GT
The global race to launch digital currencies is fiercer as central banks from more countries explore how to use the money of the future. In the competition, China has taken the lead thanks to an early start and abundant application scenarios aided by wide broadband coverage, which analysts said will help boost the internalization of the yuan against US dollar hegemony.
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