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ECB to help euro zone 'well into' recovery, Lagarde says

Reuters
·1-min read
ECB President Lagarde attends a plenary session at the European Parliament in Brussels

FRANKFURT (Reuters) - The European Central Bank will support the euro zone "well into" its recovery from a pandemic-induced double dip recession, ECB chief Christine Lagarde said on Wednesday, just eight days before a crucial policy meeting.

"Strong policy support will continue to provide a bridge over the pandemic and well into the economic recovery," Lagarde said in a speech. "The ECB is committed to preserving favourable financing conditions throughout this period."

The ECB must decide on the pace of bond purchases at its June 10 policy meeting and hints from policymakers suggest there is little appetite to cut support, even if the bloc is now firmly on the rebound.

(Reporting by Balazs Koranyi; Editing by Chris Reese)