ECB’s Elderson: Balance of risks has clearly deteriorated
European Central Bank (ECB) Vice-Chair of the Supervisory Board Frank Elderson said during the European trading session on Wednesday that the balance of risks has clearly deteriorated due to Middle East conflicts.
Additional remarks
Longer war increases likelihood of second-round effects.
I don't see second-round effects yet.
Market reaction
No significant impact on the Euro (EUR), following ECB Elderson's comments. As of writing, EUR/USD trades 0.1% lower to near 1.1620.
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