ECB's Lane: We don't expect Delta to be major domestic problem
|European Central Bank chief economist Philip Lane said noted on Monday that they don't expect the coronavirus Delta variant to be a major domestic problem for the euro area, as reported Reuters.
"The response to Delta has involved shutdowns in Asian suppliers, which is feeding back to Europe through supply," Lane further explained.
Regarding the inflation outlook, Lane said 'mostly transitory' means inflation rise doesn't have much of a footprint in the medium-term outlook.
Market reaction
These remarks are having little to no impact on the euro's performance against its major rivals. As of writing, the EUR/USD pair was trading at 1.1567, where it was virtually unchanged on a daily basis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.