ECB's De Guindos: Euro area economy still needs strong support from monetary policy

The outlook for the global economic activity outside the euro area has been showing some signs of improvements recently, Luis de Guindos, Vice-President of the European Central Bank (ECB), noted on Thursday, per Reuters.

"International trade remains weak and uncertainty around the future trading relationships among major global partners remains elevated," De Guindos added. "Some forward-looking survey indicators show tentative signs of mild improvements. The outbreak of the coronavirus and its potential effect on global growth add a new layer of uncertainty."

Regarding the ECB's policy outlook, De Guindos argued that the euro area economy still needs strong support from monetary policy and stated that they are attentive to the possible side effects of the present monetary policy measures.

EUR/USD reaction

The EUR/USD pair paid little to no mind to these remarks and was last seen trading at 1.0798, where it was down 0.06% on a daily basis.