ECB's Lagarde: New coronavirus restrictions will heighten economic uncertainty

Uncertainty for companies and families will rise due to the coronavirus-induced lockdown restrictions reimposed across the Eurozone to curb surging infections, the European Central Bank (ECB) President Christine Lagarde said on Sunday, according to Bloomberg. 

Key quotes

The recovery remains uncertain, uneven, and incomplete.

It is clear that both the fiscal and monetary policy support have to remain in place for as long as necessary and ‘cliff effects’ must be avoided.

The service sector, which accounts for 75% of employment across the Eurozone, has been worst hit by the pandemic. 

With inflation recently falling into the negative, the ECB is under pressure to announce mores stimulus by the end of the year.