ECB remains vigilent but expects recovery

Central Banking staff
26 Mar 2004

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ECB executive board member Gertrude Tumpel-Gugerell said in an interview Friday that the ECB still believes the eurozone economy will recover, but remains vigilant for any issues that could change that assessment.

"We continue to assume that the economy will recover, but we must monitor developments because an upturn in consumer demand is required for the recovery to take place," Tumpel-Gugerell said Friday in a telephone interview with AFP from Vienna.

Tumpel-Gugerell's comments were made after a

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