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ECB's Lagarde says COVID-19 clearly worsening near-term economic outlook

FRANKFURT, Oct 29 (Reuters) - Rising COVID-19 cases and government measures to contain the pandemic have led to a “clear deterioration” in the euro zone’s near-term economic outlook, European Central Bank President Christine Lagarde said on Thursday.

While stimulus measures taken by the ECB since March are helping to underpin economic activity, risks are “clearly” tilted to the downside, she told the bank’s post-meeting news conference.

New staff macroeconomic projections in December will allow the ECB to make a thorough assessment of how it should recalibrate its policy response, she said. (Reporting by Francesco Canepa; writing by John Stonestreet; Editing by Hugh Lawson)

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