On Wednesday, the head of the European Central Bank Christine Lagarde spoke about a period of economic uncertainty for the eurozone, speaking at European Parliament And Economic and Financial Affairs Committee in Brussels.
Statements by a French official made on the eve of the last meeting Board of Directors of the ECB in 2024, which will take place December 12and a few weeks before Donald Trump will again assume the presidency of the United States.
As Lagarde noted, in the medium term, economic prospects are “uncertain”. She also mentioned that eurozone economic growth may be weaker in the coming months, but there is still hope for a recovery.
“Research-based data suggests that growth will be weaker in the short term due to slowing growth in the services sector and continued contraction in manufacturing.”
“Going forward, the economic recovery of the eurozone should begin to gain some momentum. Consumer spending is expected to recover as real incomes rise, and investment should also recover.”added Lagarde.
The head of the eurozone central bank also noted that inflation is expected to be 4th quarter 2024before falling to the target level 2%set by the ECB for price stability in the economy, during 2025.
“The fight against inflation is nearing completion”she emphasized. Regarding the bank's monetary policy, Lagarde noted that the ECB has no obligations to “course”which he will follow regarding interest rates.
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