In its latest economic bulletin published on Thursday, the European Central Bank (ECB) said that the exact impact of the Omicron covid variant on the economy is highly uncertain.
Additional takeaways
Omicron variant likely to induce higher volatility in global growth.
Supply bottlenecks, rising commodity prices, omicron spread continue to weigh on near-term global growth prospects.
Euro area growth is moderating but expected to pick up again strongly in the course of this year.
Risks to economic outlook are broadly balanced.
Market reaction
EUR/USD is maintaining its pullback from two-month highs of 1.1479 on these ECB headlines, currently trading at 1.1465. The spot is higher by 0.21% so far.
