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“More durable, extensive or strict containment measures will likely require more monetary, fiscal accommodation in the short run,” European Central Bank (ECB) policymaker and Austrian National Bank  Governor Robert Holzmann said on Wednesday.

“The absence of containment measures would likely push monetary, fiscal policy even closer to limits,” Holzmann added. “The ECB must be prepared to navigate unchartered waters to tackle climate-related risks.”

Market reaction

These comments don’t seem to be having a significant impact on the shared currency’s performance against its rivals. As of writing, the EUR/USD pair was virtually unchanged on a daily basis at 1.1745.