Recent data points to a significant weakening in fourth quarter activity

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Following the decision of the European Central Bank (ECB) to leave its interest rates unchanged and the Pandemic Emergency Purchase Program (PEPP) set at 1,350,000 million euros, Christine Lagarde, President of the ECB, delivers her comments on the outlook for monetary policy at a press conference.

Featured statements:

“The economy recovered strongly in the third quarter.”

“We have seen uneven economic evolution in different sectors.”

“The infection rate increases with a clear headwind.”

“We have recent hard data, the surveys point to a significant weakening of activity in the fourth quarter“.

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Credits: Forex Street

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