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ECB’s Lagarde flags bottlenecks, energy and virus as key risks By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – Christine Lagarde, President of European Central Bank, speaks during a press conference about the results of the Governing Board meeting in Frankfurt (Germany), September 9, 2021. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) – The economic outlook for the euro zone is still fraught with uncertainty, stemming from supply bottlenecks, surging energy prices and new waves of the coronavirus pandemic, European Central Bank President Christine Lagarde said on Wednesday.

Lagarde spoke at an ECB conference, saying that it is unclear how long it will take for those bottlenecks to be solved.

Lagarde also spoke out about higher energy prices. “We will see how long that takes; it should be gone in the first half of ’22.”

Lagarde explained that “the last of the uncertainties we need to account for…is possible new waves of an epidemic that would be vaccine resistant.”

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