Lagarde: ECB's Covid rescue plan may take more time to materialise

European Central Bank may need some time before the recently agreed acceleration in the pace of money printing, part of its efforts to cushion the fallout of the Covid pandemic, becomes apparent, ECB president Christine Lagarde says

ECB president Christine Lagarde. 

The ECB may need some time before the recently agreed acceleration in the pace of money printing, part of its efforts to cushion the fallout of the Covid pandemic, becomes apparent, its president Christine Lagarde has said.

Investors have been scrutinising the ECB’s weekly purchase data for evidence of the central bank’s effort to stem a rise in borrowing costs on bond markets, largely driven by higher inflation expectations in the US.