Eurozone recovery losing momentum - ECB minutes

Thursday, 26. November 2020 13:39

Economic data points to a slowdown in Eurozone's economic recovery, the European Central Bank stated on Thursday in its October monetary policy meeting account, warning that the coronavirus pandemic could leave lasting effects.

The bank said that employment was expected to contract further, with household consumption likely to remain subdued. Business investment was expected to be negatively impacted by increased uncertainty. Inflation was seen running below previous expectations and is currently anticipated to remain negative through early 2021.

The ECB members agreed that "in the present circumstances "any sign of complacency" could be "detrimental" and that the Governing Council shouldn't "pre-commit itself to specific policy actions."

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Breaking the News / MD