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- ECB's president Lagarde: Virus will slow down production and reduce demand
ECB's president Lagarde: Virus will slow down production and reduce demand
- Says coronavirus is a major shock
- Even if temporary, virus will have significant impact on activity
- Calls for help from fiscal authorities
- Says governments, policy institutions need to take timely, targeted action
- Says ambitions, coordinated fiscal policy response needed
- ECB measures will help smooth provision of credit
- ECB stands ready to adjust all instruments
- ECB is determined to support households and firms
- Latest indicators point to a considerable worsening of the economic outlook
- Necessary containment measures are adversely affecting activity
- Growth moderated before the virus outbreak in manufacturing
- Growth expected to regain traction in medium-term
- Sees 2020 growth at 0.8%, down from 1.1% seen in December, but numbers pre-date coronavirus
- Sees 2021 growth at 1.3%, down from 1.4% seen in December
- Sees 2022 growth at 1.4%, unchanged from December
- Sees 2020 inflation at 1.1%, unchanged from December
- Sees 2021 inflation at 1.4%, unchanged from December
- Sees 2022 inflation at 1.6%, unchanged from December
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