A stronger euro hurts the competitiveness of eurozone exporters and makes imports cheaper, driving down consumer prices.
It adds another headache to a complicated economic picture for the ECB, which has launched unprecedented stimulus measures to nurse the virus-stricken economy back to health.
Lagarde said the central bank would continue to provide an"ample degree" of monetary accommodation and stood ready to adjust its actions to support the 19-nation currency club through the COVID-19 crisis. The inflation outlook remained largely unchanged and is expected to inch up to 1.3% in 2022 – still far off the ECB's inflation target of"close to, but below" 2%.for the first time in 4 years, coming in at -0.2%.
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