Europe’s central banker: Recovery ‘risks losing momentum’

The head of the European Central Bank says that the recovery “risks losing momentum” due to the second wave of coronavirus infections

“Since the rebound we saw over the summer, the recovery has been uneven, uncertain and incomplete and now risks losing momentum,” she said in the interview published Monday in English on the ECB’s website.

Lagarde said that “the options in our toolbox have not been exhausted. If more has to be done, we will do more.”

The ECB is already supporting the economy with a pandemic emergency program of bond purchases that are pumping 1.35 trillion euros ($1.58 trillion) in newly created money into the economy. Analysts think the bank may eventually add more stimulus due to weak inflation and slowing growth from the upsurge in infections, along with any new restrictions on travel and activity that may be imposed by governments to slow the spread.

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