Tue. Mar 28th, 2023

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Vaccine underpins expectation of a ‘firm’ rebound in economic activity

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Lagarde opening statement at ECB press conference: Vaccine underpins expectation of a ‘firm’ rebound in economic activity.

Also added some important points about covid 19 and speaks about Inflation has picked up on idiosyncratic events but underlying pressure remains low.

  • Governing council expects PEPP in this quarter to be conducted at significantly higher pace than in Q1
  • PEPP envelop need not be used in full if favorable financing conditions maintained; can also be boosted if needed
  • GDP was 4.9% below pre-pandemic level at year end
  • Economic may have contracted again in Q1 but points to resumption of growth in Q2
  • Business investment has shown resilience
  • Medium term risks more balanced
  • Headline inflation likely to increase further in coming months
  • Inflation expectations are at subdued levels

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