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  • ECB President Lagarde: in the Q3, economic activity continued to recover strongly
Ekonomické zprávy
15.11.2021

ECB President Lagarde: in the Q3, economic activity continued to recover strongly

  • GDP growth is still projected to be above pre-pandemic levels by the end of this year.

  • Supply bottlenecks and rising energy prices are slowing economic growth to some extent

  • Consumer spending looks solid, but industrial production is under pressure due to a shortage of materials, equipment and labor

  • The slowdown in growth may also be due to higher energy prices, which in turn will limit purchasing power and restrain consumption growth.

  • In September, the inflation rate increased by more than we had anticipated, standing at 4.1% in October.

  • We still see inflation moderating in the next year, but it will take longer to decline than originally expected.

  • We continue to foresee inflation in the medium term remaining below our new symmetric two per cent target.

  • Growth and medium-term inflation dynamics still depend on favourable financing conditions for all sectors of the economy. 

  • Our asset purchases under the PEPP continue to safeguard favourable financing conditions for all sectors of the economy. 

  • As for the further calibration of bond purchases, we will announce our intentions in December.

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