FRANKFURT, Germany — European Central Bank President Christine Lagarde says the recovery could be bumpy until vaccination becomes widespread.
That warning came in a speech at an online ECB conference Wednesday. She says the recent upsurge in infections gave the pandemic “a new dynamic” and economists are worried the recovery could go into reverse in the last three months of the year.
While recent news of vaccine tests are promising, Lagarde says the economy could face recurring cycles of growth and restrictions until enough people can be vaccinated.
She says the ECB could add more stimulus at its next meeting Dec. 10. Analysts have been predicting more stimulus as a surge in coronavirus cases and partial lockdowns weigh on economic growth.
Source: AP News