European Central Bank President Christine Lagarde said the euro zone faces about two years of downward pressure on prices, but could see a turnaround after that because the coronavirus crisis will accelerate the transformation of the economy. The ECB head said in a webinar on Saturday that the pandemic will spur the preexisting shift toward greater digitization and automation, shorter supply chains, and greener industries. In the meantime, the central bank will need to keep its monetary policy exceptionally loose, and financial instruments will need to be developed that allow the economic transformation to be funded, ... (full story)