Economics
Central Banks Curb Vaccine Euphoria With Notice of Economic Pain
- Lagarde says Europe could face more virus waves, restrictions
- Stocks jumped on breakthrough in Covid-19 vaccine development
Photographer: Timothy A. Clary/AFP via Getty Images
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Some of the world’s top central bankers have warned the global economy will still need support this year and next to weather the coronavirus crisis even if a successful vaccine is found.
In remarks that contrast with the euphoria in financial markets since Pfizer Inc. and BioNTech SE announced “extraordinary” results for their experimental vaccine, policy makers said the near-term outlook will remain dominated by rising infections and new lockdowns.