ECB's Makhlouf: Not the time to unwind either fiscal or monetary support

European Central Bank (ECB) policymaker and Irish Central Bank Governor Gabriel Makhlouf said on Thursday that now is not the time to unwind either fiscal or monetary support, as reported by Reuters.

Additional takeaways

"In the near term, the global economic outlook has deteriorated and become more uncertain."

"We cannot be complacent about potential risks to financial stability from COVID-19 impact."

"Expecting that insurance firms honour and pay valid COVID-19 claims – and do so urgently."

Market reaction

These comments don't seem to be having a noticeable impact on the shared currency's performance against its rivals. As of writing, the EUR/USD pair was up 0.21% on a daily basis at 1.2142.