ECB's de Cos: Macroeconomic projections in December likely be revised downwards

The European Central Bank's (ECB) upcoming macroeconomic projections in December are likely to be revised downwards, ECB Governing Council member Paolo Hernandez de Cos said on Friday, as reported by Reuters.

"News of covid vaccine are positive but it will take some time before seeing some positive impact on the economic activity," de Cos added.

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 up 0.22% on the day at 1.1830.