Lagarde warns of ‘negative’ November for eurozone

Christine Lagarde unveils new lending facility

The European Central Bank left its policy tools unchanged today (October 29), but president Christine Lagarde warned of a “very negative” November for the eurozone.

As a result, the deposit rate stays at -0.5%. It kept the envelope of the Pandemic Emergency Purchase Programme at €1.35 trillion ($1.57 trillion).

But Lagarde stressed risks in the eurozone are “clearly tilted to the downside” in the introductory statement. The bloc’s four largest economies, France, Germany, Italy and Spain, all

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