![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/euro-falls-sharply-as-ecb-vows-to-keep-printing-money-until-2024/&media=https://uknews.evprotec.com/wp-content/uploads/2022/10/TELEMMGLPICT000314141624_trans_NvBQzQNjv4Bq-MzqwfpAMMp9lvzXOsacKEvejPBwjhnY6oeb0BOr7Wo.jpeg&description=2:22PM Christine Lagarde has said economic activity likely slowed significantly in the third quarter and will probably slow further in the months ahead. Speaking at the ECB press conference, she said: "We expect a further weakening in the remainder of this year and the beginning of next year." The central bank boss warned risks to economic growth were "clearly on the downside" due to the war in Ukraine. She said energy and food costs could remain persistently higher than expectations and the weakening global economy could also drag. 2:04PM Christine Lagarde, President of the ECB, is now giving a press conference, and she's weighed in on energy support from governments. To limit the risk of fuelling inflation fiscal support measures to shield the economy from the impact of high energy prices should be temporary and targeted at the most vulnerable. Policymakers should provide incentives to lower energy consumption and bolster energy supply. At the same time, governments should pursue fiscal policies that show they are committed to gradually bringing down high public debt ratios. 1:57PM The US economy rebounded in the third quarter when it grew by 2.6pc, coming in slightly higher than forecasts of 2.4pc. This reinforces evidence that despite two consecutive quarters of negative growth in the first half of the year, the world's largest economy is yet to enter a recession. However, with the Federal Reserve expected to deliver a fourth outsized rate increase next week, analysts expect that an economic downturn is not far off. — Gregory Daco (@GregDaco) October 27, 2022 1:37PM Jeremy Batstone Carr at Raymond James says the ECB is taking a different approach to its peers. The European Central Bank (ECB) is between a rock and a hard place as it looks to control inflation without tanking the economy, and has decided that potentially tipping the region into a recession is a necessary evil in order to control spiralling inflation. The eurozone is facing challenges that will){kind=link}
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The euro has slumped against the dollar after the ECB vowed to keep printing money until 2024.
The central bank said it will continue its programme of quantitative easing “for an extended period time”.
It also said its pandemic-era bond-buying programme will continue until at least the end of 2024.
The euro slumped 0.8pc against the dollar, briefly trading below parity.