Fx trading News:European Central Bank President Lagarde: Eurozone economic growth is weak, but there are signs of stabilization!


2020-02-11 11:31      from:CAPSTONE    author:Jack

Capstone Forex Trading News: European Central Bank (ECB) President Lagarde said on Thursday that the economic growth of the euro area is still showing signs of warmth, but there are initial signs of stabilization, even if the outbreak of the coronavirus outbreak in China has brought doubts to the outlook.
The European Central Bank has maintained an ultra-loose monetary policy for many years to promote economic growth, and Lagarde said that the euro area economy still needs such support to prevent the impact of global adverse factors.

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"Although the uncertainty surrounding the global economic environment is still high, the uncertainty related to the US-China trade tensions is receding," Lagarde said, roughly reiterating the ECB's previous statement.
"However, other risks remain, and uncertainty about the impact of the new coronavirus is a new source of doubt," Lagarde told the European Parliament's Economic Affairs Committee.
She added that the local economy is still resilient, consumption is still growing, unemployment is at a 12-year low, and employment is at record highs.
"There are preliminary signs of stabilization," she said. "Leading indicators have been slightly more optimistic."
But she pointed out that inflation is still weak, and sluggish economic growth is difficult to accumulate inflation pressure. Controlling inflation is the main goal of the European Central Bank.
Mr. Lagarde added that low interest rates also encourage high-risk lending, which has led to a boom in real estate in some major markets, and the European Central Bank must step up its alert.

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