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The European Central Bank's December growth projections remain "plausible" despite the Covid pandemic's second wave leading to widespread lockdowns and the slow rollout of vaccination programs, president Christine Lagarde said Wednesday, noting that some of December's downside risks had been removed. "I think our last [growth] projections in December are still plausible," Lagarde said.
Source: ECB
"Those numbers are clearly based on assumptions that we believe are correct today," she added..
However, Lagarde said what could be concerning was "if after the end of March those member states needed to have continued lockdown measures and vaccination programs were slow to roll out." She also expressed the hope that now the pan-EU vaccination program was underway after a sluggish start, it would pick up steam.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.