ECB Economic Bulletin: Exact impact of Omicron covid variant is highly uncertain

In its latest economic bulletin published on Thursday, the European Central Bank (ECB) said that the exact impact of the Omicron covid variant on the economy is highly uncertain.

Additional takeaways

Omicron variant likely to induce higher volatility in global growth.

Supply bottlenecks, rising commodity prices, omicron spread continue to weigh on near-term global growth prospects.

Euro area growth is moderating but expected to pick up again strongly in the course of this year.

Risks to economic outlook are broadly balanced.