Lagarde speaking at a press conference at the Informal Meeting of Ministers for Economics and Financial Affairs in Berlin on Friday. – AFPPIXEuropean Central Bank president Christine Lagarde said today there could"no complacency" in the battle to recover from the pandemic-induced downturn, urging governments to support central bank efforts with fiscal spending.
But she reiterated that eurozone governments had to share the load through public spending and investment. The ECB itself has taken unprecedented action in recent months to cushion the blow from the pandemic fallout, rolling out a €1.35 trillion emergency bond-buying scheme while keeping interest rates at record lows and offering ultra-cheap loans to banks.But the ECB's efforts have been complicated in recent weeks by the rapid rise of the euro against the dollar.
Lagarde acknowledged the concerns, saying that"near-term price pressures will also remain subdued due to the recent appreciation of the euro exchange rate".
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