unleashed more stimulus on Thursday, December 10, to help the eurozone confront a second coronavirus wave, and warned that the outlook remained fraught with uncertainty over the pandemic's evolution and the rollout of vaccines.emergency measures to prop up the euro economy
Lagarde said it would likely take until early 2022 for the recovery to take root, assuming that scientists are right in saying vaccines will have given the world"sufficient herd immunity" by the end of next year. The ECB also said it would offer more ultra-cheap loans to banks next year and extend the scheme's most generous terms to June 2022.
"The monetary policy measures taken today will contribute to preserving favorable financing conditions over the pandemic period," Lagarde told reporters in Frankfurt. Lagarde also unveiled the ECB's latest growth forecasts, which showed that the 2020 recession will likely be less severe than feared. Hopes that Europeans are on the cusp of a mass vaccination campaign against COVID-19 helped to brighten the outlook.