New virus-related restrictions heighten uncertainty, ECB's Lagarde says

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October 18, 2020 9:29 AM EDT

FILE PHOTO: European Central Bank (ECB) President Christine Lagarde gestures as she addresses a news conference on the outcome of the meeting of the Governing Council, in Frankfurt, Germany, March 12, 2020. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - New coronavirus-related restrictions on everyday life in the euro zone add to the economic uncertainty, underlining the need for continued easy fiscal and monetary policy, European Central Bank President Christine Lagarde said on Sunday.

"It is clear that both fiscal support and monetary policy support have to remain in place for as long as necessary and 'cliff effects' must be avoided," Lagarde told an economic forum.

"New coronavirus-related restrictions currently being introduced across Europe will add to uncertainty for firms and households," she told a meeting of the G30, a group of financiers, central bankers and academics.

(Reporting by Balazs Koranyi; Editing by David Clarke)


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