Central Bank chief hits back at Covid-19 political criticism with call for action by EU governments

The Central Bank has hit back at political criticism over its role in fighting the economic fallout from the Covid-19 pandemic by saying the measures it and the ECB have taken will keep sovereign interest rates under control and help encourage Irish banks to lend during the crisis.

Governor Gabriel Gabriel Makhlouf said the ECB’’s €1 trillion prgramme of bond buying this year will help insulate the eurozone from the pandemic crisis growing into a sovereign debt crisis -- as happened during the financial crisis of a decade ago.