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World

ECB's Makhlouf near term outlook for global economy has deteriorated

  • In the near term, the outlook has deteriorated and become more uncertain.
  • "The increased vulnerabilities have clear messages. For authorities, now is not the time to unwind either fiscal or monetary support."
Published February 11, 2021

DUBLIN: The near term outlook for the global economy has deteriorated since December after most developed economies increased COVID-19 restrictions, European Central Bank governing council member Gabriel Makhlouf said on Thursday.

"In the near term, the outlook has deteriorated and become more uncertain," Makhlouf, Ireland's central bank chief, told an online event, adding that policymakers cannot be complacent about the potential risks to financial stability from the fallout of the pandemic.

"The increased vulnerabilities have clear messages. For authorities, now is not the time to unwind either fiscal or monetary support."

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