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President Lagarde presents the latest monetary policy decisions – 8 September 2022
The ECB Podcast
The Euro-Atlantic Economy and Inflation Continue to Slow Down
The euro-area economy grew by 0.8% in the second quarter of 22, mainly owing to strong consumer spending on contact intensive services as a result of the lifting of pandemic-related restrictions. While buoyant tourism has been supporting economic growth during the third quarter, we expect the economy to slow down substantially over the remainder of this year. The lasting vulnerabilities caused by the pandemic still pose a risk to the smooth transmission of our monetary policy. We will therefore continue applying flexibility in reinvesting redemptions coming due in the pandemic emergency purchase program portfolio. A separate technical press release on the remuneration of government deposits will be published at 3.45.
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