ECB discusses how the economic situation has developed since December

Q: How concerned are you about tightening in the bank lending survey. Second, on the economy. Are lockdown restrictions affecting your economic outlook?
A: Answering the second question first. Looking at the economic situation, there are mixed developments. The positive developments are the start of vaccinations, a Brexit deal was reached, European leaders have paved the way for fiscal stimulus, manufacturing is recovering, Georgia election uncertainty has been removed. The ''not-so positive' developments are: pandemic has worsened in some countries, lockdowns extended, new Covid strains would require more stringent restrictions. This is the environment in which the ECB has confirmed the monetary stance and is ready to adjust all instruments if necessary.