ECB’s Lagarde: Economic recovery would be constrained, uncertain and fragmented

Dhwani Mehta FXStreet

In an interview with the Financial Times (FT), the European Central Bank (ECB) President Christine Lagarde caste her doubts on the Euro area economy despite the central bank’s effective measures.

Additional quotes

“Financial markets have calmed down enormously.”

“ECB actions had demonstrated their efficiency, effectiveness.”

“But economic recovery would be constrained, uncertain and fragmented.”

“Some euro area countries will recover more quickly than others.”

“I wouldn't put all my bets on 18 July (on EU recovery fund).”

“Would give it until month-end for a potentially favourable outcome.”

Market reaction

The above remarks have little to no impact on the shared currency, as EUR/USD keeps its range around 1.1275, up 0.07% on the day. Focus remains on the EU budget talks.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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