ECB Lane: Net impact of coronavirus shock to be disinflationary to a substantial degree

<p>In a speech, ECB Chief Economist Philip Lane said as coronavirus containment measures lifted, there were “some signs of an initial recovery”. But this process is expected to be “quite gradual”, since it will “take time for consumers and businesses to recover” from the coronavirus shock. Incomes losses and precautionary savings “continue to weigh on consumption”. […]</p>
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