ECB’s Lagarde: Pandemic continues to threaten economy

FRANKFURT, Germany (AP) — The head of the European Central Bank has pledged not to back off on stimulus during the pandemic. Christine Lagarde says the emergence of new virus variants and the strict measures aimed at stopping the spread pose a risk that the economy could underperform. And expectations have already been dialled back due to the new variants and a slower than hoped for rollout of vaccinations. Lagarde pledged the bank would continue its measures to keep borrowing costs low. That’s helping companies get through the pandemic trough. She said it’s key for governments to keep up their support spending as well.