ECB’s Lagarde: Economic recovery will be a complicated matter

Haresh Menghani FXStreet

European Central Bank (ECB) President Christine Lagarde, while presenting at an Online Summit organised by the European Business Leaders' Convention, said that we probably have passed the lowest point of the crisis.

Additional quotes:

Still cautious because of the second wave of infections.
Economic recovery will be a complicated matter.
Recovery will be incomplete, maybe transformational.
We have to use all available policy levers on monetary and fiscal front.
This crisis is worse than the 2008-09 financial crisis.
The ECB mandate is the same i.e. focus on price stability.

The comments did little to influence or provide any meaningful impetus to the shared currency. The EUR/USD pair was last seen hovering near the lower end of its daily trading range, just above the 1.1200 mark.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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