ECB's de Cos: Recent developments anticipate a significant negative revision to 2021 growth estimates
|ECB governing council member and Bank of Spain governor Pablo Hernandez de Cos said on Tuesday that recent developments anticipate a significant downward revision to the 2021 economic growth outlook, plus a more moderate slowdown in 2022. The recent inflation spike, supply bottlenecks and rise in Covid-19 infections in Europe, he added, could lead to a slight downwards revision to Spanish GDP growth forecasts for Q4 and early 2022.
Market Reaction
The euro has not seen a significant reaction to the latest comments from de Cos.
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