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9/15, 2:39 PM (Source: TeleTrader)
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ECB's Schnabel: Delta fears may be overstated

Markets may be overestimating the risks that the spread of the COVID-19 Delta variant poses for the growth outlook, European Central Bank's (ECB) Executive Board member Isabel Schnabel (pictured) stated on Wednesday.

Delivering remarks at the opening of the ECB Bond Market contact group annual online conference, Schnabel pointed out that the vaccine rollout is likely to negate the impact of the Delta spread and similar "painful stop-and-go disruptions."

"The Delta variant has many characteristics of a genuine supply-side shock, raising prices and lowering output. But market analysts' growth expectations suggest that this shock is widely perceived as being short-lived," she concluded.

Breaking the News / BU