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The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.
The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.
ECB staff macroeconomic projections for the euro area, March 2021 Overview The recent intensification of the coronavirus (COVID-19) pandemic has weakened the near-term outlook for euro area activity but not derailed the recovery. Despite extended and more stringent containment measures, activity in the fourth quarter of 2020 declined by significantly less than expected in the December 2020 Eurosystem staff projections due to learning effects, strong manufacturing growth and a rebound in foreign demand. Although the new lockdowns have been accompanied by additional fiscal support measures, ano...