April 22 (Reuters) – Speaking at a press conference held after the European Central Bank’s (ECB) meeting on monetary policy, ECB President Christine Lagarde said:
- Global demand, fiscal measures support economic activity in the euro area.
- Uncertainty continues.
- Coronavirus cases and containment measures suppress euro zone activities.
- Inflation will rise again due to temporary factors.
- We will continue to monitor FX developments.
- Incoming data and surveys point out that economic activity may have contracted in Q1.
- Near term risks are downside.
- Medium term risks are more balanced.
- Headline inflation may rise in the coming months.
- We anticipate a gradual increase in inflation in the medium term as the increase in coronavirus cases slows.
- There are clear signs of recovery in the economy.
- There is an increase in the pandemic emergency procurement program (PEPP) and will continue to do so.
- The reduction of purchases within the scope of PEPP was not discussed at the ECB’s meeting today.
- It is premature to consider the reduction in purchases under PEPP.
- The reduction in asset purchases under PEPP is data dependent, not scheduled.
- We do not check the yield curve.
Translated by: Canan Sevgili and Berna Suleymanoglu
Proofreading: Birsen Altaylı
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