Lagarde speech: Too early to say if worst economic impact of COVID crisis is over

Christine Lagarde, President of the Europen Central Bank (ECB), said on Wednesday that it's too early to say if the worst economic impact of the coronavirus crisis is over, as reported by Reuters.

Additional takeaways

"There are still downside risks."

"There is light at the end of the tunnel with vaccinations picking up."

"By the end of June, 70% of eurozone population could get first shot of vaccine."

"Could see a robust economic rebound in the second half of the year."

Market reaction

The EUR/USD pair edged higher on these comments and was last seen trading flat on the day at 1.2086.