ECB: Eurozone Will Recover Faster Than Expected, But Support is Still Needed

European Central Bank President Christine Lagarde told European Union leaders that the Eurozone is recovering faster than previously expected, but still needs continued fiscal and monetary support so that the coronavirus pandemic does not leave a permanent scar.

“Continued support of fiscal and monetary policy will be needed to avoid pandemic leaving scars,” Lagarde further noted and said that inflation is likely to increase further in the autumn on temporary factors. “Underlying price pressures remain subdued,” she reiterated.