CHRISTINE LAGARDE: CORONAVIRUS'S IMPACT ON ECONOMY MAY BE TEMPORARY




Serhat TUNAR -TDO- The European Central Bank's top executives said the Coronavirus outbreak had increased global economic uncertainty but its impact was not expected to be permanent.

Christine Lagarde, President of the European Central Bank, said on Wednesday (yesterday): "while the threat of a trade war between the United States and China appears to have diminished, coronavirus adds a new layer of uncertainty to the global economy."

Philip Lane, chief economist at the European Central Bank, said epidemics tend to have a short-term impact on growth rates and economies.

“We may see quite a significant impact, but more importantly, we are not too worried about monetary policy, where we have a medium-term orientation, “Lane said of the impact of coronavirus on the economy, which is spreading from China all over the world."

The European Central Bank chief economist stressed that the 2003 SARS and other outbreaks were a natural benchmark, noting that the history of past epidemics showed that the economy was not affected in the long term by such factors.


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