The Strategist

ECB head assesses impact of new COVID-19 wave on eurozone

02/04/2022 - 05:10

The impact of the current wave of the coronavirus on the eurozone economy is milder than previous waves, despite the high number of infections, said the head of the European Central Bank (ECB) Christine Lagarde.

European Central Bank
European Central Bank
The region's economy suffers "less and less" from each wave of the pandemic, she said.

"Although infection rates are very high, the impact of the pandemic on economic life now seems less devastating," Lagarde stressed.

The ECB chief suggested that economic activity would be subdued early in the year, also because of the coronavirus restrictions and their impact on a number of industries, but that overall economic growth would "seriously revive" in 2022, thanks to domestic demand.