ECB to help euro zone 'well into' recovery, Lagarde says



© Reuters. European Central Bank President Christine Lagarde addresses European lawmakers during a plenary session at the European Parliament in Brussels, Belgium February 8, 2021. Olivier Matthys/Pool via REUTERS/Files

FRANKFURT (Reuters) – The European Central Bank will support the euro zone “well into” its recovery from a pandemic-induced double dip recession, ECB chief Christine Lagarde said on Wednesday, just eight days before a crucial policy meeting.

“Strong policy support will continue to provide a bridge over the pandemic and well into the economic recovery,” Lagarde said in a speech. “The ECB is committed to preserving favourable financing conditions throughout this period.”

The ECB must decide on the pace of bond purchases at its June 10 policy meeting and hints from policymakers suggest there is little appetite to cut support, even if the bloc is now firmly on the rebound.

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