Vaccine underpins expectation of a ‘firm’ rebound in economic activity

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<p>Lagarde opening statement at ECB press conference: Vaccine underpins expectation of a ‘firm’ rebound in economic activity.</p>
<p>Also added some important points about covid 19 and speaks about Inflation has picked up on idiosyncratic events but underlying pressure remains low.</p>
<ul>
<li>Governing council expects PEPP in this quarter to be conducted at significantly higher pace than in Q1</li>
<li>PEPP envelop need not be used in full if favorable financing conditions maintained; can also be boosted if needed</li>
<li>GDP was 4.9% below pre-pandemic level at year end</li>
<li>Economic may have contracted again in Q1 but points to resumption of growth in Q2</li>
<li>Business investment has shown resilience</li>
<li>Medium term risks more balanced</li>
<li>Headline inflation likely to increase further in coming months</li>
<li>Inflation expectations are at subdued levels</li>
</ul>
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