ECB's de Guindos: Eurozone economy very likely to shrink in first half of 2021

If a high proportion of the population gets vaccinated by summer, a strong economic rebound is expected be in the second half of the year, European Central Bank Vice President Luis de Guindos said on Thursday, per Reuters.

Additional takeaways

"Eurozone economy is very likely to shrink in the first half of 2021."

"Eurozone inflation slightly stronger than expected in January-February."

"ECB intervention has avoided a debt crisis in some countries."

Market reaction

These comments don't seem to be having a significant impact on the shared currency. As of writing, the EUR/USD pair was down 0.35% at 1.1770.