European Central Bank Vice-President Luis de Guindos expects the Eurozone growth to be negative in the fourth quarter, according to Reuters. The negative growth is attributed to fresh restrictions imposed across the Eurozone following the second wave of coronavirus infections.
- On Thursday, the European commission downgraded GDP forecast expectations for 2020 and 2021 in the wake of the new coronavirus infections.
- Earlier, the ECB extended open market operations by purchasing bonds worth 2.31 trillion euros to manage liquidity and signal its monetary stance in the euro area.
European stocks are declining as the Euro gains. DAX is down 0.53%, CAC 40 is down 0.42%, EURUSD is up 0.33%
