ECB’s Lagarde warns of uncertainty about speed of vaccination

FILE PHOTO: ECB President Lagarde attends a plenary session at the European Parliament in Brussels
FILE PHOTO: European Central Bank President Christine Lagarde at the European Parliament in Brussels, Belgium February 8, 2021. Olivier Matthys/Pool via REUTERS

March 22, 2021

FRANKFURT (Reuters) – The euro zone’s economic outlook is marred by uncertainty about the evolution of the COVID-19 pandemic and the speed of the vaccination campaign, European Central Bank President Christine Lagarde said on Monday.

“The near-term economic outlook is subject to uncertainty, relating in particular to the dynamics of the pandemic and the speed of vaccination campaigns,” Lagarde said in a blog post on the ECB’s website.

“We therefore stand ready to adjust all of our instruments, as appropriate, to ensure that inflation moves towards our aim in a sustained manner, in line with our commitment to symmetry,” she added, repeating the ECB’s long-standing guidance.

(Reporting By Francesco Canepa; Editing by Balazs Koranyi)