ECB’s Knot: Economic data solidify confidence in our baseline projections

In an interview with the Eurofi magazine published on Thursday, the European Central Bank (ECB) Governing Council member and the head of the Dutch central bank Klass Knot said that risks to the eurozone’s recovery had receded, given the economic data over the summer.

Key quotes

“These developments solidify the confidence in our baseline projection with a more favourable balance-of-risks.”

“However, even if no further setbacks materialize, economic activity will only approach pre-corona levels at the end of 2022.”