European Central Bank keeps pandemic support going

President of European Central Bank Christine Lagarde (Michael Probst/AP)

The European Central Bank decided on Thursday to keep its pandemic stimulus efforts unchanged even as consumer prices spike and central banks in other parts of the world look to dial back support as their economies bounce back from the worst of the Covid-19 outbreak.

Bank president Christine Lagarde underlined that the burst of inflation was temporary and the economy still needed support from the bank’s 1.85 trillion euro (£1.56 trillion) stimulus programme.