Abstract:he euro against the US dollar opened at 1.1986. As of press time, the euro against the US dollar temporarily recorded 1.1951, a decrease of 0.29%.

On March 12th, Thursday (March 11) the European Central Bank announced its March interest rate resolution, keeping the three major interest rates unchanged as scheduled, and decided to accelerate the purchase of government bonds. After the interest rate resolution was announced, the euro fell short-term. Subsequently, European Central Bank President Lagarde emphasized in his speech that uncertainty still exists, premature tightening of policies is not advisable, and the euro continues to fall.

On Friday (March 12) the euro against the dollar opened at 1.1986. As of press time, the euro against the dollar temporarily recorded 1.1951, a decrease of 0.29%.

On Thursday (March 11), the European Central Bank announced its March interest rate resolution, keeping the three major interest rates unchanged as scheduled. The European Central Bank has made the following decision to continue to purchase net assets under the Emergency Anti-epidemic Bond Purchase Program (PEPP). The total size is 1.85 trillion euros, at least until the end of March 2022.

In addition, the European Central Bank will continue to purchase net assets under the Emergency Anti-epidemic Bond Purchase Program (PEPP), with a total scale of 1.85 trillion euros, at least until the end of March 2022; based on a joint assessment of financing conditions and inflation prospects, the European Central Bank It is expected that the rate of purchase of PEPP in the next quarter will be significantly higher than in the first few months of this year.

The European Central Bank expects interest rates to remain at current or lower levels until it sees that the inflation outlook strongly converges to a level close enough but below 2% within its expected range.

After the interest rate resolution was announced, the euro fell by less than 20 points in the short term.

Later, European Central Bank President Lagarde held a press conference, saying that uncertainty still exists, and it is not advisable to tighten policy prematurely. The purchase of PEPP will accelerate significantly in the next quarter, and inflation will rise sharply in January and February. According to the trend of oil futures, inflation is expected to rise in the next few months. This year's inflation will continue to fluctuate. Once the impact of the epidemic subsides, inflationary pressure will gradually rise.

Lambregts also said: "Demand is still the key. Although government support measures may have prevented a more serious decline in consumer spending, pent-up demand will only provide temporary impetus after the economy reopens. What's more worrying is that, After the anti-epidemic restrictions are lifted, can those who have completely withdrawn from the labor market come back soon. The labor market will not be fully normalized until at least the middle of 2022, which is consistent with our GDP forecast."

The survey shows that the momentum of rising inflation in the Eurozone is unlikely to last. The slow recovery of the economy from the recession caused by the epidemic will make price growth lower than the ECB's target for many years. The implementation of the blockade in the Eurozone continues to suppress the economy, and the economy has fallen into a double-dip recession. After the economy rebounds in the next quarter, the growth momentum will slow in the next two years.