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Inflation, pandemic wave hitting euro zone recovery at early stage: ECB’s Panetta -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Fabio Panetta (Senior Deputy Governor of Bank of Italy) is seen standing in front of the Bank of Italy’s corridor before his appointment to the European Central Bank Executive Committee in Rome. September 26, 2019. REUTERS/Remo Casill

FRANKFURT, Reuters – Recovery from a pandemic shock in the euro area is not complete and recent inflation shocks along with a new wave of pandemics are threatening the recovery, Fabio Panetta, European Central Bank policymaker said Thursday.

Panetta stated that the inflationary spike resulting from global supply shocks as well as the resurgence of the pandemic were hitting the Euro area in an early stage for its recovery.

He said that while the economy is still far from its pre-pandemic trends, services activity as well as investment are much lower than they were before.

 

 

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