EU economy on crutches, warns ECB chief Christine Lagarde
By: DW
Photo: DW
Frankfurt: European Central Bank chief Christine Lagarde on Thursday said the bloc s economy was still on crutches and in need of support from both the central bank and government spending as the eurozone undergoes extended coronavirus lockdowns.
Lagarde said while the bank sees an eventual rebound this year, any steps to phase out its anti-pandemic emergency monetary plan would be premature.
It is premature to talk about phasing out PEPP [Pandemic Emergency Purchase Programme], she said during a news conference. According to Lagarde, leaving the PEPP depended on various factors including financing conditions and the inflation outlook.
Europos ekonomikos atsigavimo fondo įgyvendinimas pajudėjo į priekį
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Зелёный евродепутат: надо спасать атмосферу
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4/22/2021 4:08:11 AM GMT
The tail chasing noise is already deafening this week. Having spent the first part of the week in doom and gloom mode as the market ran short of bullish excuses to buy everything, equity markets staged a sharp rebound overnight. The cyclical Russell 2000 seeing most of the action, despite the three heavyweight indexes recording decent gains.
Economic recovery and post-Covid bliss were the reasons du jour for the overnight equity rally, which spilt over into gold and catalytic converting palladium. Currency markets were almost unchanged, though, but oil markets retreated as speculative bullish momentum continues to wane ahead of OPEC+ s increasing production starting in May.