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The European Central Bank’s new projections are unlikely to be far from the European Commission’s new growth forecasts, ECB Vice President Luis de Guindos said on Thursday, as reported by Reuters.

De Guindos further noted that growth will be more sluggish in 2021 than they initially projected. 

Meanwhile, ECB supervisor Andrea Enria said that the credit risk in the eurozone is very high and that there will be a deterioration in banks’ asset quality. 

Market reaction

The EUR/USD pair largely ignored those comments and was last seen gaining 0.72% on a daily basis at 1.1807.