ECB board member Isabel Schnabel said new restrictions in Europe “dampened substantially, the outlook for the fourth quarter, and then also for the first quarter of next year.” Though, there was “excellent news” regarding coronavirus vaccine”. And that “puts us back in our baseline scenario”, which sees a strong rebound 2021.
Separately, Governing Council member Pablo Hernandez de Cos also said, “the vaccine is very positive news, regarding investor confidence, consumers confidence and economic activity. But I would like to be cautious. In the short term, restrictions will continue across Europe.”
