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ECB: Household savings to finance 3-5 years of consumption growth

European Central Bank (ECB) policymaker Pierre Wunsch said on Tuesday that the household savings in 2020 and early 2021 are sufficient to finance 3-5 years of strong consumption growth at a higher level than in 2019.

NEWS IN ENGLISH 06.04.2021, 18:29
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ECB: Household savings to finance 3-5 years of consumption growth


Wunsch also traced multiple scenarios, suggesting that if the economy improves, the ECB will have to move towards tightening in some ways. Whereas, if the economy clearly deteriorates, the bank is open to extending the Pandemic Emergency Purchase Programme (PEPP) until March 2022.
Generally, according to the policymaker, the ECB is currently content with the financing conditions as they are. Wunsch also said he was impressed by the resilience of the economies.
The ECB left interest rates and its Pandemic Emergency Purchase Program unchanged. President of the European Central Bank, Christine Lagarde, revealed on Thursday that the Eurozone inflation is expected to increase in the upcoming months and become volatile for some time.
Following the ECB's monetary policy decision, Lagarde commented on the Eurozone GDP outlook and short-term challenges ahead.

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