FRANKFURT, Germany: European Central Bank head Christine Lagarde says the bank’s massive monetary stimulus measures have helped stabilize the economy amid the pandemic and the ECB is ready to deploy even more stimulus if necessary.
Lagarde told members of the European Parliament’s economic and monetary affairs committee on Monday that the public health crisis will continue to weigh on economic activity and poses downside risks to the economic outlook.
She said that the bank continues to stand ready to adjust all of its instruments, as appropriate.”
Lagarde said that the ongoing 1.35 trillion euro ($1.57 trillion) pandemic emergency stimulus which involves the bank regularly pumping newly printed money into the economy through bond purchases has had a very significant impact in stabilizing markets and the…