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ECB president Christine Lagarde says COVID-19 recession is ‘highly unusual’ and cautions against excessive optimism over a vaccine

Christine Lagarde, President of the European Central Bank, speaks to the media following a meeting of the ECB governing board

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The COVID-19 crisis has produced a highly unusual recession and recovery is likely to be uneven, according to European Central Bank president, Christine Lagarde, who on Wednesday warned against excessive optimism over the short-term impact to the economy from a vaccine. 

“While the latest news on a vaccine looks encouraging, we could still face recurring cycles of accelerating viral spread and tightening restrictions until widespread immunity is achieved,” Lagarde told the ECB forum on central banking in Frankfurt.

“The recovery may not be linear, but rather unsteady, stop-start and contingent on the pace of vaccine roll-out,” details ⇒

Source:: BusinessInsider.Com