Lagarde speech: US fiscal response to lift European GDP by 0.3% over medium term

Christine Lagarde, President of the Europen Central Bank (ECB), said on Wednesday that the United States' fiscal response is expected to lift the European growth by 0.3% over the medium term, as reported by Reuters.

Additional takeaways

"US spillover on Europe's inflation to be 0.15%."

"Major spillover from the US will impact 2022 mostly."

"Countries with larger tourism sectors will likely take longer to recover."

"Been amazed by corporate, household adjustment to the crisis."

Market reaction

The EUR/USD pair showed no immediate reaction to these comments and was last seen losing 0.08% on a daily basis at 1.1956.