The euro is still strong against the dollar today as the greenback continues to weaken.
The ECB carried out their financial stability review yesterday. President of the ECB, Christine Lagarde said that there could still be recurring cycles of coronavirus waves and tightening restrictions, making for an unsteady recovery rather than a linear one.
The Bank also warned that European banks will not see profits return to pre-pandemic levels before 2022. Ahead of their stimulus announcement in December, officials revealed that oil prices and potential vaccines will be taken into account.
Today, the ECB will hold their monetary policy accounts meeting.
