The head of the European Central Bank, Christine Lagarde, warned that the eurozone economy is facing exceptional shocks due to trade issues, supply chain disruptions, and climate change.
Lagarde noted that uncertainty related to global supply chains continues to remain one of the key risk aspects for the European economic outlook.
"The production sector, without exception, continues to remain very weak, and it, without a doubt, has suffered from the impacts of everything, starting from ordinary exports to the collected sector," the ECB President noted.
Lagarde emphasized that the bank will maintain its accommodative monetary policy and strengthen its stimulus, which will allow it to support inflation and price stability in the eurozone.
"These new stimuli leave our monetary policy based on very clear and confident foundations. We are ready to use all available instruments to maintain price stability and ensure support for inflation in our system," Lagarde stated.
