ECB remains cautious despite further signs of eurozone recovery

ECB president Christine Lagarde: "I have repeatedly said that policymakers needed to provide the right bridge across the pandemic, well into the recovery, so we can actually deliver on our mandate."

Eurozone business growth accelerated at its fastest pace in over three years in May, but ECB president Christine Lagarde said an uncertain recovery still needed emergency support from the ECB.

After a slow start to vaccinations the pace is picking up, allowing some restrictions imposed to quell the spread of the coronavirus to be lifted, and a strong resurgence in the bloc's now-reopening service industry added to the impetus from a booming manufacturing sector.