ECB’s Visco warns that uneven vaccination pace could threaten global recovery
|The irregular pace at which countries are carrying out their vaccination campaigns against COVID-19 poses the biggest threat to a global economic recovery, the European Central Bank Governing Council member and Italian central bank chief Ignazio Visco warned in an interview with the Financial Times.
Key quotes (via Reuters)
"We need to maintain close international co-operation within the G20 to avoid that the different stages of the vaccination campaign in the various countries result in excessive divergences of the respective economies,"
“Increasing the issuance of IMF special drawing rights in order to assist developing economies in their recovery will be one of the major talking points at the meeting.”
“But the most important thing right now is getting people vaccinated.”
"The main instrument we have at the moment is neither monetary nor fiscal, it is vaccinations."
EUR/USD attempts a bounce
EUR/USD is looking to regain the bid tone above 1.1750 amid risk-on market mood, with the S&P 500 futures higher by 0.50% while the US dollar index eases slightly to 92.98, as of writing.
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.