ECB, Lagarde: expected solid rebound of the economy in 2021

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11 March 2021 The Eurozone economy is expected to contract in the first quarter, feeling the effects of the new wave of infections, the impact of the new variants and the consequent containment measures adopted by governments.

ECB President Christine Lagarde said this at a press conference in Frankfurt.

Looking ahead, the ECB expects a solid rebound in economic activities in the course of 2021 as the vaccination campaign proceeds.

"Although the economy will improve in the course of 2021, large uncertainties remain linked to the dynamics of the pandemic and the speed of the vaccination campaign, said the president of the ECB. Looking ahead, he added, the acceleration of the vaccination campaign

will provide support and in the meantime support from monetary and fiscal policy remains crucial. "" We remain ready to adjust all our tools, where appropriate, to ensure that inflation is firmly close to the target level, in line with our commitment to symmetry ". 

The GDP of the Eurozone is expected to grow at the rate of 4% in 2021, 4.1% in 2022 and 2.2% in 2023. These are the new estimates announced today at a press conference by the president of the ECB Christine Lagarde. In the previous fiscal year in December, Eurozone experts had predicted growth of 3.9% in 2021, 4.2% in 2022 and 2.1% in 2023 after falling by 7.3% recorded in 2020.

The growth rate of inflation in the Eurozone is expected to be + 1.5% in 2021, + 1.2% in 2022 and + 1.4% in 2023. These are the new estimates announced today at a press conference by ECB President Christine Lagarde

The Eurozone had forecast inflation growth of 1% in 2021,

1.1% in 2022 and 1.4% in 2023 after the modest 0.2% gain recorded in 2020. Inflation it has increased over the past few months on the back of temporary factors such as rising energy prices but underlying pressures remain contained, Lagarde said: "The inflation outlook remains broadly unchanged."

"We will continue to follow the exchange rate trend in relation to its possible implications for the medium-term inflation outlook," the president of the ECB said at a press conference in Frankfurt.