ECB President Lagarde: The downside risks to economic growth have increased.

The President of the European Central Bank, Lagarde, stated that the downside risks to economic growth have increased. At a press conference on Thursday, she said, "The significant escalation of global trade tensions and the associated uncertainties may suppress exports, thereby dragging down economic growth in the Eurozone, and investment and Consumer activities may also be affected." Lagarde noted that geopolitical events such as the Russia-Ukraine conflict and the tragic conflicts in the Middle East remain major sources of uncertainty. Meanwhile, the increase in defense and infrastructure spending will drive economic growth.