The euro zone needs to strengthen domestic demand, including via greater public investment, if it is to withstand weakness abroad, the European Central Bank’s new President Christine Lagarde said on Friday.
In her first major policy address in the role, she said it was vital that eurozone governments boost domestic demand as export-driven growth had stalled as a result of global trade tensions and geopolitical issues.
Lagarde told a major banking conference in Frankfurt that the eurozone economy is expected to grow just 1.1% this year — “much lower than previously forecast.”
She reaffirmed the ECB would do its part by continuing “to support the economy and respond to future risks” while monitoring “the side effects” of its easy money policy.
Via Reuters
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