In the April-June quarter of 2020 -- the period most affected by the spread of COVID-19 as the state of emergency was in place -- the real GDP growth rate registered the largest-ever decline since 1980, from when comparable data are available, marking minus 8.2 percent on a quarter-onquarter basis; however, the growth rate for the July-September quarter turned positive as economic activity resumed at home and abroad (Chart 2).
As you are aware, this will most probably be the last press conference following a meeting of the Governing Council that I will chair. From my perspective, these press conferences have been a success. Their purpose is to inform the media and the general public in detail, and on an almost “real-time” basis, about the outcome of Governing Council meetings.